Financial incentives from the Iowa Department of Economic Development were awarded to 11 businesses Thursday. IDED spokesperson Shawn Rolland says the businesses are planning expansions that will create or retain jobs.
"All told, these 11 financial awards could create over 1,000 high quality jobs in the state," Rolland said. The biggest project, which was announced earlier this week by Governor Culver, involves a $33 million expansion of the Siemens Power Generation plant in Fort Madison. The company will receive tax benefits and $1.4 million from the state’s Physical Infrastructure Assistance Program.
Rolland says three companies are planning to add tech jobs in the Des Moines suburb of Urbandale. He says Seabury and Smith will receive tax benefits for plans to construct a new building and add 450 new jobs. Two other companies in Urbandale, Worldwide Integrated Supply Chain Solutions and W.R. Berkley Corporation, are also receiving state aid for expansion projects.
Rolland says a company that produces office forms in Osage will receive $100,000 in state aid plus tax benefits. R.R. Donnelley is expanding after the acquisition of Cardinal Brands – which had been located south of the U.S. border."This is a unique project where manufacturing jobs are actually moving from Mexico to Iowa," Rolland said. The other companies that are receiving state benefits for adding jobs are located in Ames, Cedar Rapids, Earlville, Eddyville, Grimes and Lucas.
More information on the projects is available at the Iowa Economic Development Department’s website .