The state Economic Development Authority awarded financial assistance and tax benefits to four companies that plan to invest a total of $38.6 million in facility expansion and job creation projects in Sioux City, Mason City and Burlington, Iowa.
“We continue to see growth in the manufacturing sector in Iowa,” said IEDA Director Debi Durham. “With expansions of existing operations and new locations, Iowa continues to benefit from these job creation and capital investment projects.”
In Pella, Iowa, Dutch-based Castle Metal Inc. plans to open a manufacturing plant to focus on steel working, including stainless steel and aluminum. The firm will specialize in laser cutting, automatic bending and robot welding. Castle Metal is a subsidiary of Kasteel Metaal, a Dutch manufacturer of industrial washing machines, vending machines, speedgates for parking garages, cylinder entrances and stainless steel parts for milking robots.
The Iowa Development Board awarded the company $200,000 in direct financial assistance as well as tax benefits for this $3.2 million capital investment project that is expected to create 26 jobs.
In Burlington, Iowa, Case New Holland, an agricultural and construction equipment businesses, plans to invest $9.3 million to in-source components currently purchased from outside suppliers in three phases. CNH’s Burlington Plant is the center of excellence for design and manufacture of tractor loader backhoes, tractor-loaders, and rough terrain forklifts. The board awarded CNH tax benefits for the project that is expected to create 36 jobs.
In Sioux City, Dennis Supply Company, a distributor and wholesaler of HVAC equipment and supplies, will invest $650,000 to add a new warehouse onto the company’s corporate headquarters. The company currently has locations in Iowa, South Dakota, Nebraska and Wyoming. The board awarded Dennis Supply tax benefits to assist the company in retaining 18 jobs.
In Mason City, Iowa, Renewable Energy Group, a North American biodiesel producer, operates seven biodiesel plants across the country. On May 1, 2013, Renewable Energy Group agreed to purchase Soy Energy, which owns a 30 million gallon per year biodiesel plant Mason City. Upon approval of the transaction by Soy Energy unit holders, REG plans to repair then re-start the refinery and further upgrade the location. The board awarded REG Mason City tax incentives for this $25.5 capital investment that is set to create at least 15 jobs.