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BOARD ACTION: Economic Development Board approves awards to support over $28 million in capital investments in Iowa

For more information contact:

Tina Hoffman, Iowa Economic Development Authority
Phone:   515.725.3150, mobile 515.783.8225
communications@iowaeda.com
 
Economic Development Board approves awards to support over $28 million in capital investments in Iowa

December 16, 2016 (DES MOINES, IA) – The Iowa Economic Development Authority (IEDA) board awarded direct financial assistance and tax benefits to three companies for job creation and expansion projects. These awards will assist in the creation of 89 jobs and will result in over $28 million in new capital investment for the state.

The board approved assistance for planned or proposed projects located in Grimes, Newton and Pella.

Daimler Trucks to establish distribution center in Grimes
Daimler Trucks North America, LLC (DTNA), headquartered in Portland, Oregon, is the leading heavy-duty truck manufacturer in North America. It manufactures, sells, and services commercial vehicles under various nameplates. The company plans to establish a new parts distribution center in a new warehouse located in Grimes.  The board awarded DTNA tax benefits through the High Quality Jobs program (HQJP) for this $6.4 million capital investment.  The project is expected to create 43 jobs, of which six are incented at a qualifying hourly wage of $27.92.

Graphic Packaging set to expand Newton facility
Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company headquartered in Atlanta, Georgia, is a leading provider of paper-based packaging solutions. The company’s carton plant in Newton produces packaging for dry, frozen and refrigerated foods. The board awarded Graphic Packaging tax benefits through HQJP for a $20 million capital investment involving an expansion of the Newton facility.  This project is expected to create 31 jobs, of which four are incented at a qualifying wage of $17.87 per hour.

Canadian manufacturer Agile Manufacturing to locate in Pella
Headquartered in Canada, Agile Manufacturing specializes in additive manufacturing utilizing 3D printing machines and materials such as metal, plastics and acrylic epoxy.  The company’s products supply various sectors that include the aerospace, medical and agricultural industries.  The company was awarded $90,000 in direct financial assistance as well as tax benefits for a $1.7 million capital investment that involves the development of a new facility in Pella.  The project is expected to create 15 jobs, of which nine are incented at a qualifying wage of $20.17 per hour.
 
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Download a spreadsheet of today's awards:
iowaeconomicdevelopment.com/UserDocs/documents/IEDA/dec16awards.pdf

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Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
email: Email Us

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