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Manufacturers Plan Expansion In Davenport, Des Moines and Urbandale, Iowa With State Incentives

11/20/2015
The Iowa Economic Development Authority board awarded financial assistance and tax benefits to three companies for investing nearly $12 million in expansion projects in Davenport, Des Moines, Urbandale, Iowa.

Companies receiving benefits include;

CharNor, a Davenport, Iowa, remanufacturer of forklift driveline components sold to forklift dealers, is proposing to relocate to a larger facility. The new building will address the need for substantial storage, which is currently handled offsite, as well as alleviate bottlenecks in current operations. The board awarded the project a $245,000 loan/forgivable loan through the High Quality Jobs Program to create 74 jobs, of which 49 are incented. The project has a capital investment of $570,000.

In Des Moines, EFCO is a vertically integrated manufacturer providing concrete and concrete support systems. Products produced in Des Moines are used in the construction of commercial high rise buildings, oil and energy applications, bridges and highways, utilities and water treatment and home building.

The proposed project consists of a new 154,000 square foot facility that will allow for additional production capacity. The expansion will also allow for the modernization of standard product manufacturing processes, resulting in productivity increases. The board awarded the project tax benefits through HQJ for the projected $11 million capital investment. The expansion will create 40 jobs and retain 88.

Fastpath is an Urbandale-based software development company specializing in audit, compliance and security solutions that enable organizations to automate audit processes. The proposed $175,000 expansion includes additional space for help desk support and a large application development team, allowing the company to more than double its workforce and position it for future growth. The project will create 12 jobs and was awarded tax benefits through HQJ.

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