Five Iowa Manufacturers Plan Expansion with IEDA Grants
08/25/2017
Awards will assist in the creation of 62 jobs and will result in over $48 million in new capital investment for the state. The board also approved awards for strategic infrastructure, entrepreneurial assistance and a reinvestment district project.
Companies approved for financial incentives included;
Cambrex Charles City, Inc., a company that manufactures Active Pharmaceutical Ingredients and pharmaceutical intermediates for both generic and branded human pharmaceutical markets, is planning a $27 million expansion project to increase manufacturing capacity at its facility in Charles City, Iowa. The board awarded Cambrex $125,000 in direct financial assistance as well as tax benefits via the High Quality Jobs (HQJ) program.
Crystal Distribution Services, Inc., a company that provides temperature-controlled warehouse and repackaging services to food processing companies, plans to construct a new 50,000 square-foot freezer space in Waterloo, Iowa. The project has a capital investment of $5.5 million. The board awarded this project tax benefits via HQJ.
Farmers Edge, a global leader in decision agriculture that gives growers the data needed to make informed decisions on the farm, plans to develop a testing laboratory in Grimes, Iowa. The board awarded Farmers Edge tax benefits via HQJ to construct a soil testing laboratory in Grimes to serve Farmers Edge U.S. operations. The project has a capital investment of $2.2 million.
Highway Equipment Company, a company that manufactures deicing spreaders and road maintenance equipment, along with agricultural equipment, will expand the research and development capabilities in Cedar Rapids. The project has a capital investment of $1.35 million. The board awarded the project tax benefits via HQJ for this expansion.
Weems Industries, Inc., d/b/a Legacy Manufacturing Co., offering a wide-range of professional grade service and maintenance equipment for automotive, industrial, contractor, agricultural and marine markets, is proposing to build a 200,000 square-foot expansion of its current facility in Marion. The board awarded the project tax benefits via HQJ for this $12 million expansion.
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