IA: New Iowa Economic Development Authority Board Awards Incentives to Create up to 593 New Iowa Jobs
24 Oct, 2011
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At its first official board meeting, the new Iowa Economic Development Authority Board members approved awards today that will create up to 593 jobs in Iowa and retain another 105 jobs.
The board approved incentives for planned or proposed projects located in Des Moines, Charles City, Fort Dodge, Coralville, Urbandale, Davenport, Underwood and Independence.
"I am encouraged by the economic activity that is currently taking place in Iowa," said Governor Terry Branstad. "I am particularly pleased with the diversity of companies that are choosing Iowa for company expansions or relocations." He continued, "It is also exciting to see that we are already reaping benefits from our recent trade mission to Asia. With Cargill's decision earlier this year, and now with the board action today to assist CJ Corporation to locate nearby, I envision a biorefinery complex in Ft. Dodge that continues to successfully expand and benefit the region."
The incentives awarded today went to companies in the areas of technology, manufacturing, food processing and biosciences.
"We are definitely gaining momentum in terms of job creation and improving our overall business climate," said Debi Durham, director of the Iowa Economic Development Authority. "We're assisting good ideas, innovations and new opportunities for both businesses and Iowans."
South Korean company, CJ Cheiljedang Corporation, proposes plant in Fort Dodge
The board approved $1.8 million in direct financial assistance as well as tax incentives to Korean-based CJ Cheiljedang Corporation. The company is considering a project to produce amino acids by world-class fermentation technology at a new facility in Fort Dodge. Amino acids are essential ingredients in feed additives for livestock. The company is expected to receive local financial assistance from Webster County, and the IDOT board will also consider infrastructure assistance in November. The project represents a $324 million investment, is expected to create 180 jobs and comes on the heels of two official Iowa Governor and Lt. Governor-led trade missions to Korea in recent months.
Advanced Manufacturing & Power Systems receives award to locate in Des Moines
The board approved $225,000 in direct financial assistance to Florida-based Advanced Manufacturing & Power Systems to establish a division in Des Moines to meet the increased demand for expertise in stationary diesel systems maintenance, retrofits and replacement and comply with the federally-mandated emission standards for hazardous air pollutants. The company will employ a team of highly-skilled professionals. Product lines include: aluminum and steel enclosures; aluminum stairways, platform and catwalk systems; fuel tanks and mounting bases; trailer systems; and home stand-by generator units. The project is expected to create 80 jobs, of which 45 will be supported by state incentives.
Appcore LLC proposes engineering and marketing project in Des Moines
The board approved $100,000 in financial assistance to Appcore for a proposed project with Dialogic to produce computer hardware and software systems that will be sold to the telecommunications industry for on-premise datacenter deployment. Appcore develops computer hardware and software systems for delivering Infrastructure-as-a-Service (IaaS) systems called Appcore OnsiteT. The company sells these systems to telecom companies so they can provide virtual servers and virtual datacenters to their customers on a pay-as-you-go basis.
Cedar River Poultry LLC seeks assistance for renovation of Charles City facility
The board approved enterprise zone tax incentives to Cedar River Poultry for roof repairs and flooring reconstruction at its Charles City plant in order to meet USDA specifications. It also requires the ammonia refrigeration system be renovated to ensure safe working conditions for the employees. The company proposes to process spent laying hens. The project is expected to create 140 jobs, of which 26 will be supported by state incentives.
City of Coralville/University of Iowa Research Park receive award for infrastructure improvement
The board approved $331,854 in infrastructure improvement funding to the City of Coralville to upgrade and expand sewer services for a development project at the University of Iowa Research Park (UIRP). The request is part of a larger investment being made by the City of Coralville and the UIRP to make adjoining lots suitable for development to increase opportunities for future investments and job creation.
Energy Control Technologies proposes expansion and relocation to Urbandale
The board approved $75,000 in financial assistance to Energy Control Technologies (ECT) to expand its operations to a new, larger space in Urbandale. ECT provides control solutions to the oil and gas, industrial/manufacturing and biofuels markets. With this move, the company is expected to expand its operations to include a larger R&D and engineering group to accommodate an increase in sales. The project is expected to create 13 jobs, of which 10 will be supported by state incentives.
Fidlar Technologies considers relocation of operations to Davenport
The board approved $336,000 in direct financial assistance and tax credit benefits to Fidlar Technologies. The company proposes to relocate their facility to Davenport. The company, originally from Rock Island, Illinois develops software and installs and services document management products for the local government industry. This project represents a $2.67 million investment and is expected to create 48 jobs, of which 42 will be supported by state incentives.
Land O'Lakes' Fort Dodge plant seeks assistance for renovation
The board approved $200,000 in direct financial assistance and enterprise zone tax credits to Land O'Lakes. The project is a proposed demolition, remediation and remodeling of warehouses and office space that sits on a 13-acre site. The company is a leading marketer of a full line of dairy-based consumer, foodservice and food ingredient products across the United States; serves its international customers with a variety of food and animal feed ingredients; and provides farmers and ranchers with an extensive line of agricultural supplies (feed, seed, and crop protection products) and services. The project is expected to create one new job and retain 25 existing jobs.
Link Snacks obtains award for expansion in Underwood
The board approved $40,000 in direct financial assistance plus tax incentives to Link Snacks, Inc. for the acquisition of an existing building in the city of Underwood to establish a second distribution center in Iowa for its products. The company's other center is in Laurens. Link Snacks,Inc. is one of the fastest-growing meat snack manufacturers in the world, and sells their products in more than 40 countries. This $9.4 million capital investment is expected to create 131 new jobs.
Nestle Purina proposes expansion of Davenport factory
The board approved $500,000 in tax incentives through the High Quality Jobs Program to Nestle Purina Pet Care Company (NPPC) to expand its current factory in Davenport. The additional space will allow NPPC to produce additional tonnage of pet food and upgrade manufacturing machinery. NPPC has three factories located in Iowa (Davenport, Clinton, and Fort Dodge) and is a leader in the manufacture of pet food and pet-related products. The project is expected to retain 10 jobs.
Coralville's Rives Audio receives assistance for product launch
The board approved $12,000 in financial assistance to Rives Audio. Originally a small-room acoustics engineering firm, Rives Audio purchased Talon Loudspeakers in 2007, and in 2009, moved nearly all of their operations from Utah to Iowa for the purpose of improving the overall quality in manufacturing, and to re-launch the Talon brand. This division will produce some of the finest loudspeakers in the world, namely the Phoenix. The Phoenix is based on much of the technology that Talon has already proven, plus a variety of innovations developed by Rives Audio. The financial assistance awarded today will be used for the development of the active crossover and the marketing and product launch of its new product.
Demonstration Fund award presented to West Des Moines company
The board approved a $75,000 royalty agreement through the Demonstration Fund to West Des Moines-based Statistics & Control. The company plans to continue with the execution of present sales and marketing strategies by advertising, presenting technical papers and exhibiting at trade symposiums, contracting additional sales representative organizations and hiring a business development consultant. Statistics & Control began operating in 2007 as a full-service automation controls engineering company and has developed software solutions that can be categorized into two general product lines: turbomachinery control and advanced process control.
Wapsie Valley Creamery approved for assistance to upgrade facility in Independence
The board approved $100,000 in financial assistance plus tax incentives to Wapsie Valley Creamery (WVC) to upgrade its manufacturing facility in Independence. WVC is a family-owned company that manufactures American hard cheeses and lactose and de-lac dried whey products. It has been in continuous operation in Independence, Iowa since 1906. Its products are sold under private retail and manufacturing labels throughout the United States. This project is expected to retain 70 jobs.