FINANCIAL_SERVICESAWARDED

Iowa Economic Development Authority AgendaPacket Due Diligence Committee Meeting 2026-05-15

Cambrex Charles City Wins $10.1M BIG Tax Credits

$10,132,500 (tax credits: $7,612,500 Investment Tax Credit; $2,520,000 Sales and Use Tax Refund)Iowa Arts CouncilCAMBREX CHARLES CITY INCMay 15, 2026

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Description

The Iowa Economic Development Authority approved a BIG program tax credit package totaling $10,132,500 for Cambrex Charles City, Inc. to support a $149.8 million expansion, including construction of a new Pharma 5 production facility in Charles City. The award runs through May 31, 2036 and is tied to $135.1 million in qualifying investment and 104 new qualified jobs.

Contract Details

Contract Amount

$10,132,500 (tax credits: $7,612,500 Investment Tax Credit; $2,520,000 Sales and Use Tax Refund)

Vendor

CAMBREX CHARLES CITY INC

Agency

Iowa Arts Council, IA

Contract Type

FINANCIAL_SERVICES

Document Date

May 15, 2026

Contract Term

Project award date May 15, 2026; investment completion by May 31, 2029; contract end date May 31, 2036

Renewal Date

2036-05-31

Renewal Info

Contract under BIG program with performance and maintenance through May 31, 2036; prior HQJP and DFTC tax credit awards exist, one currently in performance and earlier awards closed or declined.