A company that makes blade for wind turbines is expanding its operation in Fort Madison. State and local officials announced the plans for the Siemens Power Generation company to add 75,000 square feet onto its 311,000 square foot plant. They will also build a new 125,000 square foot plant and a rail yard.
The total cost of the project is expected to exceed 33-million dollars and create 287 jobs that pay an average of just over $17 an hour. The state Economic Development Board is providing a one-point-three-million dollar forgivable loan and nearly two million dollars in tax credits for the company.The Fort Madison blade factory opened in 2007 and is the only such facility blades in the U.S.
There are currently 246 people working at the plant. Siemens officials expect to complete construction on the new facilities by October 2008.