Cosmetics firm earns state grant, tax incentives for Iowa facilities

A company that makes cosmetics customized to the genetic makeup of the wearer has received a state grant and tax incentive package essential to its plans to open research facilities in Iowa City and Coralville.

National Genecular Institute Inc. is part of California-based Dermacia Inc.

NGI expanded its research and development operation to the University of Iowa's Oakdale Research Park in Coralville early this year. It uses a gene mapping system to determine a customer's genetic predisposition to skin conditions so they can be addressed with customized products to battle signs of aging and other problems.

NGI plans a 55,000-square-foot research facility in Coralville and a 20,000-square-foot facility in Northgate Commercial and Research Park in Iowa City that will house its biotech storage facility.

The Coralville facility will be leased from a developer by NGI and the University of Iowa. The Iowa City facility will be built and owned by NGI on a 3.7-acre parcel.

The two facilities will employ about 178. About 116 of those jobs will have an average wage of $31.37 per hour and will be used to qualify for state incentives.

The Iowa Department of Economic Development Board awarded a $655,000 Community Economic Betterment Account and tax benefits from the High Quality Jobs Creation program.

Earlier this week, a committee of the Iowa City Council recommended approval of a $1.2 million tax increment financing assistance package for NGI to the full council.

The total capital investment planned in the NGI facilities is more than $14 million, according to the economic development department.

The state grant package was considered essential to efforts by Iowa City and Coralville leaders to win the project over rival sites in Utah and Arizona.