The Iowa Economic Development Authority (IEDA) Board approved awards for five Iowa companies, which will assist in the creation of 170 jobs and result in $50.4 million in new capital investment for the state.
The five projects are located in Cedar Rapids, Denison, Indianola, Louisa county and Webster county. All five of the projects were awarded through the IEDA’s High Quality Jobs program.
Below is a breakdown of the awards approved and announced by the IEDA last week:
Fluid Quip Technologies builds office space in Cedar Rapids
Fluid Quip Technologies produces multiple patented technologies that enhance the corn-to-ethanol dry grind process for ethanol plants, improving run rates, diversifying outputs and increasing efficiency. The company plans to build additional workspace in Cedar Rapids, which will include approximately 12,600 square feet of offices and other accommodating areas.
The project represents a nearly $1.3 million capital investment and the board awarded tax benefits and $100,000 in direct financial assistance through the High Quality Jobs (HQJ) program. It is expected to bring 32 jobs at a qualifying wage of $24.20 per hour.
Monogram Food Solutions increases capacity in Denison
Monogram Food Solutions has become one of the nation’s leading manufacturers of value-added snack meats and other foods. The company acquired the Quality Food Processors plant in Denison and plans to modify the facility to incorporate new manufacturing lines.
The $13.9 million capital investment project was awarded tax benefits through the HQJ program. It is expected to create 125 jobs at a qualifying wage of $18.51 per hour.
Cemen Tech expands in Indianola
Cemen Tech, headquartered in Indianola, manufactures volumetric concrete mixers and sells them throughout the U.S. and internationally to contractors, municipalities, precast operators and the military. The company plans to expand the production facility and office space.
The project represents a $2.8 million capital investment and is expected to create one job at a qualifying wage of $28.01 per hour. The board awarded the company tax benefits through the HQJ program.
Louisa County’s Tyson modifies facility
A subsidiary of Tyson Foods, Tyson Fresh Meats is a supplier of premium beef and pork. In Louisa County, the company produces pork products and plans to enhance the processing at the facility with new machinery, equipment and modifications.
The project represents a capital investment of nearly $15.4 million and was awarded tax benefits through the HQJ program. It is expected to create 10 jobs, of which eight are incented at a qualifying wage of $19.65 per hour.
Calcium Products constructs facility in Webster County
Calcium Products manufactures calcium-based fertilizer pellets for the U.S. and Canada, helping customers maximize soil fertility to achieve higher crop yields and superior turf grass. To increase output, the company plans to replace the existing facility with the construction of a new 70,000 square foot production and warehouse facility.
The board awarded this $17.1 million capital investment project tax benefits through the HQJ program. It is expected to create two jobs at a qualifying wage of $20.47 per hour.