The Iowa Economic Development Board has awarded tax breaks and direct financial assistance to several business projects across the state. Kay Snyder, spokesperson for the Iowa Department of Economic Development, says 11 companies in 10 cities were approved for the awards Thursday.
Combined, the companies expect their projects will create more than 230 new jobs and retain another 246 positions. Snyder says the overall capital investment by the companies involved totals more than $80 million. The biggest project involves plans by Pioneer Hi-Bred International to expand its headquarters in Johnston. The plant genetics company plans to construct additional offices, a state-of-the-art insectory, new growth chambers for plant breeding and a greenhouse.
“All of these are combined into a $147 million project cost,” Snyder said. “They’re looking to create 138 new jobs.” Pioneer employs more than 2,100 workers in Iowa. Another large project involves a startup manufacturing operation in Story City. Snyder says the IED Board awarded $450,000 in direct assistance to Indoshell Precision Technologies.
The company plans to purchase and remodel an existing building and refurbish machinery and equipment. The move is expected to create 72 jobs. The other projects are located in Des Moines, Muscatine, Cedar Rapids, Sioux City, Lamoni, Ames, Indianola and Corydon.
Find out more economic development information here: www.iowalifechanging.com