The Iowa Department of Economic Development Board today awarded a $6.5 million forgivable loan to the Whirlpool Corporation for a project at its Amana refrigerator plant in Amana. D.E.D. spokesperson Kay Snyder says the Michigan-based company plans to invest $20 million in the eastern Iowa plant and move some production jobs to Iowa from Indiana.
Snyder says employment at the Amana plant will increase by 60 jobs, while the investments in the facility will help retain 1600 jobs. Whirlpool officials say the Amana plant will begin producing ice-makers sometime this summer. The ice-making machines are capable of producing 50 pounds of ice a day.
The D.E.D. Board also approved much smaller awards to businesses located in Boone, Carlisle, Des Moines, Mason City, Sheldon, Sheffield and West Point. Snyder says those awards will help those small-to-medium size businesses introduce new products and expand markets. The awards range from roughly $22,000 up to $150,000.