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State Incentives Assist Three Iowa Firms With $39 Million In Capital Expansion Plans

10/20/2014
The Iowa Economic Development Authority board awarded direct financial assistance and tax benefits to three companies in the cities of Dubuque, Sioux City and Ankeny that will result in a total $39 million in capital investment and create 281 jobs.

“Our commitment to create jobs is stronger than ever," said Governor Terry Branstad. "From Sioux City to Dubuque, these projects demonstrate that we are staying true to our pledge to continue moving Iowa forward toward economic prosperity.”

The incentives awarded today went to companies in the areas of financial services, food processing and advanced manufacturing. “We appreciate the investments made by these companies. We look forward to working with them as they prosper and create more jobs and benefit from Iowa’s attractive business climate," said IEDA director Debi Durham.

Firms receiving incentives include;

Kunkel and Associates, an insurance consulting firm providing innovative insurance services to commercial accounts and their employees, plans to expand its operations center in Dubuque, Iowa. The board approved direct financial assistance as well as tax benefits through the High Quality Jobs Program for the company’s proposed building expansion. The project has a capital investment of $2.4 million and will create 18 jobs.

MCF Operating, doing business as Mrs. Clark’s Foods, manufactures fruit and vegetable juices, salad dressings and other sauces. The company is proposing an expansion of its plant in Ankeny, Iowa. The proposed $7.3 million project includes the construction of a 69,000 sq. ft. facility for warehousing and refrigeration. The board awarded the company tax benefits through HQJ to create 13 new jobs.

Finally, Trinity Industries in Sioux City, Iowa, provides industrial products and services ranging from railcars, inland barges, storage containers, and aggregates to highway products, structural wind towers, railcar parts and railcar leasing and management services. The company plans to establish a new operating facility in Sioux City to provide railcar maintenance, railcar re-manufacturing and railcar services. The board awarded the company tax benefits through the Targeted Jobs Withholding Tax Credit program to create 250 new jobs. The project represents a $29.5 million capital investment.

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