State officials say a company is considering a location in central Iowa for a new manufacturing plant. Shawn Roland, with the Iowa Department of Economic Development, says Newton is in the running for the factory, which would create 723 new jobs.
The company has not made a final decision on where they will house the factory, but Newton is one of their options. The production level wages would range between $12.25 and $13.40 an hour. Roland says the business describes itself as a "structural composite manufacturer."
The name of the company will be made public on Monday, when county and city leaders meet to apply for state incentives. Roland says the Iowa Department of Economic Development Board will review the application next Thursday.
"The company has requested approximately two million dollars worth of economic development set aside loans," Roland says, "so that what the various boards will be considering on Monday and Thursday." The announcement comes as Whirlpool prepares to close the former Maytag headquarters in Newton. The Whirlpool/Maytag shut-down is eliminating around 1,800 jobs in the Jasper County town.