Japanese biotech company coming to Clinton
CLINTON, Iowa (KWQC) -
A biotech company headquartered in Japan is setting up shop in Clinton, Iowa.
Spiber is a biotech startup that produces lab-grown proteins, such as spider silk, for use in clothing and other consumer products. The company announced Friday that it will expand production of its plant-based polymers in Clinton, its first U.S. facility.
The expansion will work through a partnership with ADM, which has a facility in Clinton. An economic development incentive package approved by the State of Iowa helped make it possible. The incentive package includes direct assistance in the amount of $1 million through the state’s High Quality Jobs Program, and the City of Clinton plans to provide a 20-percent match.
The project represents a $101.4 million capital investment. The company says the money will accelerate its investment in the equipment and infrastructure used to convert corn-based dextrose into alternative proteins for use as biomaterials across many industries.
Initially, the expansion is expected to create 5 jobs, but more are expected.
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