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Japanese biotech company coming to Clinton

(KFYR)
Published: Nov. 20, 2020 at 3:37 PM CST
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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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