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BOARD ACTION: Board Approves Awards to Support Job Creation

For more information contact:

 

Kanan Kappelman, IDED, 515.725.3154

communications@iowaeda.com

 

Economic Development Board Approves Awards to Support the Creation of up to 447 Jobs

 

May 19, 2011 (DES MOINES) - The Iowa Economic Development Board approved awards today for projects that will create up to 447 jobs in Iowa.

 

The board approved incentives for planned or proposed projects in Davenport, Mason City, Dyersville, Grundy Center, Cedar Rapids, Chariton, Shelby and Council Bluffs.

 

“The number of companies that are choosing to add jobs in Iowa is proof the state is an attractive place to expand or locate a business,” Governor Branstad said.

 

A variety of industries were represented in today’s awards, including manufacturing, biotechnology and food processing. The total capital investment of the projects receiving awards is more than $233 million.

 

“Businesses are choosing to invest in Iowa because our state provides an ideal climate for growth and innovation,” said IDED director Debi Durham.

 

Davenport company plans expansion

The board has approved tax incentives to Alter Trading Corporation through the High Quality Jobs program.  The company will be purchasing and installing new equipment and constructing a building as part of $14.5 million expansion project at its metal recycling facility in Davenport.  The expansion is expected to create three jobs and retain an additional 12 other labor positions. State incentives will support one new and one retained job. Alter Trading Corporation is one of the largest metal recycling companies in the country, recycling both ferrous and non-ferrous metals.

 

Cargill proposes expansion of Mason City facility

The board approved Enterprise Zone tax incentives for Cargill Kitchen Solutions, which is proposing an expansion of its Mason City facility.  The company produces value-added further processed egg products and breakfast entrees for North America. The project represents a $12.4 million capital investment and is expected to create 20 jobs supported by state incentives. The expansion includes a 35,000-square foot addition and installation of a new further processing egg cook production line. The project will help expand product offerings for the company, as well as its customer base.

 

Dyersville manufacturer plans expansion

The board awarded $630,000 in direct financial assistance from the GIVFAP and tax incentives to Engineering Services and Products Company doing business as FarmTek to construct a new manufacturing facility and technology center in Dyersville to meet demand for its products. The project represents a $3.5 million capital investment and is expected to create 100 jobs, 84 of which are supported by state incentives. The company supplies products related to tension fabric buildings, commercial greenhouses and agricultural and poultry needs. Tax incentives approved for the company are through the High Quality Jobs program.

 

Lubricants manufacturer receives award

The board approved $60,000 in direct financial assistance to Environmental Lubricants Manufacturing in Grundy Center to purchase and install a microwave grease manufacturing system and lubricant filling and packaging equipment. The company is the leading U.S. provider of biobased lubricants and greases and has invented more than 30 commercially viable products made from American-grown soybeans. The award is through the GIVFAP value-added agricultural component.

 

Genencor proposes second phase of expansion in Cedar Rapids

The board approved $500,000 in direct financial assistance from the GIVFAP and Enterprise Zone tax incentives to biotechnology company Genencor for a proposed second-phase expansion to its Cedar Rapids facility. The project would represent a $67.4 million capital investment and would create 33 new jobs supported by state incentives. The company discovers, develops and sells biocatalysts and other biochemicals for the industrial, consumer and agri-processing markets and started construction on the first phase of its Cedar Rapids expansion last year. The company’s latest proposal would increase production capacity through building additions and new machinery and equipment.

 

Hy-Vee to expand facility in Chariton

The board approved tax incentives to Hy-Vee, Inc. to expand the refrigerated food facility at its Chariton distribution center. The Iowa-based retail grocery chain plans to add 108,000 square feet to the facility and construct a fuel island for delivery trucks. The expansion is expected to create 10 jobs supported by state incentives and represents an $18.3 million capital investment by the company. Hy-Vee has 126 retail grocery stores in Iowa and supplies food to eight surrounding states. Incentives approved by the board are through the High Quality Jobs program.

 

Menard to expand in Shelby County

The board approved Enterprise Zone tax incentives to Menard, Inc. to expand a warehouse at its distribution center in Shelby County that will allow for a further expansion of its product lines. The company also considered out-of-state locations for this project.  The project represents an estimated $10.9 million capital investment and is expected to create 28 new jobs at the facility.

 

Plumrose proposes manufacturing facility in Council Bluffs

The board approved $520,000 in direct financial assistance from the GIVFAP and tax incentives to meat processor Plumrose USA to build a proposed manufacturing facility in Council Bluffs.  If the project proceeds, it would represent a $57.8 million capital investment and create 65 new jobs supported by state incentives. The company, which produces premium bacons, packaged deli meats, deli-counter hams, canned hams and cooked ribs, already has a production facility in Council Bluffs focused on deli meats and bacon. The proposal calls for a 100,000-square-foot LEED-certified facility that would house new slicing and packaging operations. The tax incentives approved for the project are though the High Quality Jobs program.

 

Tyson eyes Council Bluffs renovation

The board awarded $800,000 in direct financial assistance from the GIVFAP value-added component and Enterprise Zone tax incentives to Tyson Prepared Foods, Inc. for a proposed renovation of its Council Bluffs facility. The project involves 53 jobs that meet enterprise zone requirements and would be supported by state incentives.  The proposal includes an addition of roughly 60,000 square feet and renovating the cooked meats facility for a total capital investment of $48 million. Tyson is the nation’s largest protein supplier with its primary products being chicken, beef, pork and prepared foods. The company employs 9,400 people in Iowa.

 

Golden Corn Technologies to add value to ethanol co-products

Golden Corn Technologies LLC (GCT) is a biological research business and developer of Distillers Edge product, an ethanol co-product technology innovation. This bolt-on backside process has promise to dramatically increase oil capture during manufacture of ethanol, thereby increasing revenue from each kernel of corn. The Board awarded $150,000 from the Iowa Demonstration Fund to support a pilot project expected to produce 10 tons of DDGS and 1,100 pounds of oil necessary to complete additional evaluation, feasibility analysis and feed trials; all critical toward bringing Distillers Edge to market and development of a more comprehensive business plan.

 

The ReWall Company providing sustainable materials for construction

The ReWall Company (TRC) will produce a structural fiberboard that recycles beverage cartons and cups in its manufacturing process. TRC blends cartons, cups and their component materials in a low energy process to produce high quality boards. These boards have the appearance of drywall, the durability of plywood, moisture and mold resistance, flexibility and thermal and acoustic insulation. TRC’s partners have been producing ReWall under a different name in Europe for more than a decade.  The Board approved an award of $150,000 from the Demonstration Fund to obtain samples from Europe for the purpose of securing an ICC listing and green certification, which is an important step toward producing and selling the product in Iowa.

 

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Download a spreadsheet of these awards: http://www.iowalifechanging.com/downloads/may11awards.pdf

 

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