The Iowa Economic Development Authority Board approved an award to 3M Company. The company, headquartered in St. Paul, Minnesota, plans to upgrade its existing facility in Ames.
3M designs, manufactures and distributes a broad range of products within four main business groups: safety and industrial, transportation and electronics, healthcare, and consumer. The company’s Ames location manufactures a variety of abrasives products in the industrial, automotive repair and consumer markets. 3M plans to upgrade the Ames facility with additional equipment to expand capabilities and capacity.
The board awarded the company state tax benefits through the High Quality Jobs program. The project represents a nearly $13.6 million capital investment by 3M and is also projected to create 25 jobs incented at a qualifying wage threshold of $30.07 per hour.
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