A new jet manufacturing company that would create over 200 jobs is considering locating in Ames.

VisionAire, which will produce the world’s first single-engine, all-composite corporate jet, will choose between Ames and Cape Girardeau, Mo. in the next four weeks, said Jim Lightsey, business manager of the small business resource department of the Iowa Department of Economic Development.

Gary Pluth, chief financial officer of VisionAire, said the company has narrowed down its choice between the two communities based on a number of criteria.

“We need to evaluate the communities’ interest in the company,” Pluth said.

The company needs to raise almost $6 million to get a flying prototype and two testing planes built, Lightsey said. VisionAire expects $2.75 million to come from investors in the community they locate in. The other $2.75 million will be from major investors around the country.

“We have not attempted to raise the $2.75 million before we locate in the community,” Pluth said. “We just need to be confident that the money could be raised in the community.”

Pluth said because Ames has been working with VisionAire for so long, “a number of people in Ames have gotten to understand the company. We have approximately 50 investors in the Ames community.”

Ames has been working with VisionAire for three years. Over $1 million in investments have already been raised locally, said Jami Larson, president of the Ames Economic Development Commission.

“We have been working to facilitate a meeting between VisionAire and potential investors,” Larson said. “We have not raised money on behalf of VisionAire.”

Larson said Ames Seed Capital Fund, a subsidiary of Ames Economic Development, can approve $100,000 in investment after a company has located in Ames.

Lightsey said companies that locate in Iowa will be paid for every job they produce in Iowa.

Pluth said the company is considering other criteria besides potential investors in their decision.

“We need a clear understanding of the airport facility and an industry profile,” Pluth said.

Larson said the commission is working to present the company a favorable economic package.