IA: Board Approves Awards to Support $15M Investment, 100 New Jobs
15 Dec, 2017
The Iowa Economic Development Authority (IEDA) board awarded direct financial assistance and tax benefits to one company for job creation and expansion. This award will assist in the creation of 100 jobs and will result in nearly $15 million in new capital investment for the state.
The board approved assistance for a planned project located in Milford.
Manufacturer Locating Operations in Milford
Liberty Diversified International (LDI) is a family of manufacturing companies including paper and packaging, building products and workplace environments. One of LDI’s subsidiaries, Safco Products Co., recently partnered with Mayline Office Furniture to expand its product lines. The company is purchasing an existing facility in Milford to increase manufacturing capacity because of rapid growth. The board awarded LDI $500,000 in direct financial assistance, as well as tax benefits via the High Quality Jobs (HQJ) program for this nearly $15 million capital investment. The project is expected to create 100 new jobs at a qualifying wage of $16.83 per hour.
Download a spreadsheet of the award: iowaeconomicdevelopment.com/UserDocs/programs/dec17awards.pdf.