As a farmer of more than 500 acres, Ted Crosbie sees competition among agricultural biotechnology companies as good, because it increases his seed options and drives down prices. As vice president of global plant breeding for Monsanto Co., he is in the race with other biotech company executives to get more farmers to purchase his company’s products. [...] This investment, said Crosbie, who also is Iowa’s chief technology officer, will help stimulate economic development in the state for years to come.