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IEDA Incentives Assists Company Expansion Throughout the Hawkeye State

02/28/2019
Iowa Economic Development Authority awarded tax benefits to five companies for job creation and expansion projects in Davenport, Ames, Sioux City, Forest City and Dubuque, Iowa.

According to IEDA these awards will assist in the creation of 669 jobs and will result in more than $127 million in new capital investment for the state.

In Davenport, Carleton Life Support Systems, part of the Cobham Mission Systems and the Cobham plc Aerospace Systems Group, plans to expand its facility. The company’s Davenport location is primarily used for design, development, fabrication, assembly and testing of complex military hardware. CLSS plans to renovate its existing location to accommodate growth – both in workforce and production. The board awarded this $29.6 million capital investment, which is expected to create 150 jobs, direct financial assistance and tax benefits from the High Quality Jobs program.

In Dubuque, Dupaco Community Credit Union, a not-for-profit, member-owned financial cooperative, plans to rehabilitate the Voices building in the Millwork District, turning the top three floors into its headquarters location for back-of-office support services such as IT, administration and operations. The board awarded Dupaco Credit Union tax benefits from the HQJ program for its $32.4 million capital investment. The project is expected to create 40 jobs.

The First renewable diesel project in Iowa to locate in rural Sioux County, ReadiFuels-Iowa, is a newly created entity started by Applied Research Associates, Inc. and C&N Biofuels. The company will utilize a variety of feedstocks to produce approximately 34 million gallons of renewable diesel and renewable naphtha annually, the first facility of its kind in the state.

ReadiFuels-Iowa plans to construct a new production facility utilizing existing infrastructure at a partially abandoned property near Hull in Sioux County. The board awarded the company tax benefits from HQJ for this $58.7 million capital investment, which is expected to create 31 jobs.

Vertex Software, a software company, will expand its operational headquarters in Ames, Iowa. Vertex plans to construct a new facility to house its expanding workforce. The board awarded Vertex Software direct financial assistance and tax benefits from the HQJ program for its $1.6 million capital investment, which is expected to create 300 jobs.

In Forest City, Winnebago Industries, Inc., a company that manufactures outdoor lifestyle products under the Winnebago, Grand Design and Chris-Craft brands, plans to expand its current manufacturing footprint; the company will convert existing warehouse space to make room for a production line previously manufactured in Oregon. This $5.3 million capital investment consolidates product development, supply chain and assembly operations for its diesel motorhome business in a single location and is expected to create 148 jobs.

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