News

2009 Iowa Venture Awards Honor Achievement

posted on Thursday, December 3, 2009 in News

The Iowa Area Development Group (IADG) on behalf of Iowa’s rural electric cooperatives and member municipal electric systems has honored eight distinguished Iowa companies with the Iowa Venture Award. The Iowa Venture Award ceremony began in 1988 and is among the most enduring and prestigious business recognition events in Iowa. Iowa Area Development Group has recognized and honored over 170 of Iowa’s finest business leaders and companies with the prestigious Iowa Venture Award.


The 2009 “Outstanding Business of the Year” Venture Award was presented to Platinum Ethanol located in Arthur, Iowa. Platinum Ethanol is a privately held 110 million gallon ethanol plant in northwest Iowa. The company employs 50 people and is an end market for more than 36 million bushels of locally grown corn. Platinum Ethanol began operation in September of 2008 and since then has continued to expand its facility with corn oil extract, a 1.2 million bushel grain bin, a one million plus bushel flat storage pad and other process enhancements. Platinum Ethanol was nominated by North West Rural Electric Cooperative.

“Iowa Area Development Group is grateful to have the opportunity to honor and recognize outstanding Iowa companies,” said IADG president, Rand Fisher. “Each year we honor the achievement of Iowa business leaders and entrepreneurs with the Iowa Venture Award. Our ceremony allows our sponsors to thank these accomplished companies for their commitment to Iowa through capital investment and job creation,” added Fisher. Since 1985 the powerful partnerships and economic development efforts of IADG and their sponsoring utilities have helped generate over $5.6 billion dollars of capital investment and create or retain nearly 38,000 jobs for Iowa.

The Iowa Venture Award was also presented to Iowa Lakes Community College for “Distinguished Leadership.” Iowa Lakes Community College in Estherville has taken a leadership role within Iowa’s growing wind industry. The college proactively developed the “Wind Energy and Turbine Technology Program,” which provides curriculum specifically designed for the wind industry. The community college has played a pivotal role in establishing a wind turbine simulation center on campus to offer employee safety and training services to the growing wind industry in Iowa.

The Iowa Venture Award was also presented to six other businesses for their significant contributions to diversifying and developing Iowa’s economy. These 2009 Venture Award recipients include: Allan Industrial Coatings located in Allison; Bridges Bay Resort, Arnolds Park; Frontier Natural Products Co-op, Norway; Infrastructure Technology Solutions, Monticello; Majona Steel Corporation, Osceola; and NRP of Iowa near Steamboat Rock.

Iowa Area Development Group is the business and community development leader for Iowa’s rural electric cooperatives and member municipal electric utilities. The 2009 Iowa Venture Awards ceremony was held at the Iowa Association of Electric Cooperatives’ annual meeting in West Des Moines. 

To learn more about the 2009 Venture Award recipients, please visit our Venture Award Hall of Fame or our Photo Gallery.