The city of Newton has approved an application for state assistance for a company in Minnesota to buy the former Maytag regional distribution center to open a second manufacturing plant in Newton. Newton Community Development director, Bryan Friedman, says Walter G. Anderson Incorporated would buy the center for about three-million dollars and spend over two million dollars on remodeling and equipment to make cereal and other food boxes.
Friedman says the company uses mostly recycled cardboard to make the boxes and print on them. The company gets some of its recycled cardboard from Tama. Friedman says the company that’s based in the Twin Cities proposes creating at least 60 jobs withing three-and-a-half years. Forty or more of the jobs would pay $19.29 an hour.
The Iowa Economic Development Board iwll consider giving the company some $600,000 in state aid at its meeting Thursday. The city would offer the company up to $100,000 in tax abatement over 10 years. The Twin Cities company proposes creating at least 60 jobs within three-and-a-half years.
By Randy Van, KCOB, Newton