South Korean company CJ Cheiljedang is bringing about 180 jobs to the Fort Dodge, Iowa, area thanks to a $324 million investment in a new facililty, according to Gov. Terry Branstad. The plant will produce amino acids through fermentation technologies, and be situated next to a Cargill facility.
Construction of the facility in the North Central Ag Industrial Park is slated to begin by April 2012, and production may start by December 2013.
The governor has high hopes that other companies also will locate to the area and establish a cluster. "[Its] location will be right next to Cargill, and [be] the beginning of a whole bio-refinery complex," said Branstad. "I think Cargill envisions this to be a bioscience complex similar to what they already have in Eddyville, Iowa and in Blair, Nebraska."
The Iowa Economic Development Authority Board approved $1.8 million in direct assistance and tax incentives for the project, and additional incentives are expected from Webster County and an Iowa DOT RISE grant.