An Ames antibody manufacturer has announced plans for a $5 million dollar expansion in rural Boone County.
Mg Biologics, a manufacturer of plasma and antibody products, will expand its property at 2366 270th Street, where Boone County overlaps with the city limits.
The project will expand the company’s manufacturing, warehouse and research footprint through the construction of two new facilities on 80 hectares of land. The expansion will also add eight technical positions with a minimum starting wage of $31 per hour, according to a news release from Boone County Economic Growth Corporation.
The Iowa Economic Development Authority approved state financing of Mg Biologics on June 21. The board approved $225,000 in incentives through Iowa’s High-Quality Jobs Program.
Boone County Supervisors also approved a local adjustment and settlement of state funds on June 12, supporting the project with tax abatements on a 10-year schedule.
The scheme provides an 80% discount for the first year. The amount decreases by 10% every year for five years: 40% for the fifth and sixth years, 30% for the seventh and eighth years and 20% for the ninth and tenth years.
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Use antibodies to treat and prevent disease
Mg Biologics was founded in 1999 and will celebrate its 25th anniversary in September. The company produces products for horses, dogs, cats, cattle and pigs.
Mg products are aimed at promoting animal health from neonatal to critical care needs. Their products include plasma, IgG, antibody products and antivenom for dogs and horses.
The company also manufactures and produces a Rattler Antivenom that neutralizes venom from rattlesnakes, copperheads and water moccasins. The product has undergone several studies and is licensed by the USDA.
“We believe (and research shows) that antibodies (and antivenoms) are beneficial in reducing the duration and severity of disease or in stopping the disease completely,” said a statement on Mg Biologics’ website .
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Celia Brocker is a government, crime, politics and education reporter for the Ames Tribune. She can be reached at CBrocker@gannett.com.
This article originally appeared on Ames Tribune: Local plasma manufacturer plans $5 million Boone County expansion
