Accelerated Ag Technologies, LLC (AAT) is a leading agricultural bio-technology company headquartered in Ankeny. Their mission is to increase the reliability of the world’s seed and grain supply by enhancing hybrid production systems through a combination of reproductive science paired with process engineered solutions. Since its formation in 2015, AAT has developed a broad intellectual property portfolio and technology that will improve and enable the production of hybrid crops.
AAT is proposing to expand into existing flex space located at 2302 SE Creekview Drive, Suite 1, in the Metro North Business Park, where they plan to lease an additional 12,300 square feet. This more than doubles their current footprint in Ankeny. Staff is proposing to provide a $26,000, 50% forgivable, 50% repayable, loan to assist with purchase of equipment and build of the space. Under the terms of the loan, AAT has committed to creating 13 new positions, with 8 of the positions exceeding 120% of the areas median laborshed wage rage of $29.12/hour. The loan will be secured with a UCC1 and funds will not be released until after proof of occupancy. |