The Iowa Economic Development Board Thursday awarded incentives to several planned or proposed projects that are expected to create nearly 60 jobs in the state. The largest award, a $1.5 million forgivable loan, will help a company in Cedar Rapids construct a new facility to replace a building damaged by flood waters.
IED Board spokesperson Kannan Kappleman says Intermec Technologies’ lease on its current space is expiring. The company makes products to manage supply chains. Kappleman says the $56.7 million project, which includes a $42 million investment in research and development, will retain 224 jobs.
The jobs pay at least $21.80 an hour. Another Cedar Rapids firm, AgSugar International, will receive a $250,000 loan from the state to build a $1.6 million facility. Officials with the industrial biotech equipment manufacturer say the project should create 24 jobs over three years.
A company in Harlan was awarded just over $508,000 in tax credits to add equipment and expand its building. A-M-P-C makes stocks and broths for the food industry. “The project is expected to create 10 jobs…and retain an additional three jobs,” Kappleman said.
The state is giving Transco Railway Products in Oelwein more than $184,000 in tax credits and nearly $42,000 in job training assistance for a $1.6 million expansion. The 20,000 square foot building will be used to clean hopper rail cars. The project is expected to create 10 jobs that pay at least $12.15 an hour.
New Horizon Cuisine was awarded $259,000 for a $2.2 million proposal to build a plant in Ankeny.
The startup company plans to begin production in the fall and create 15 jobs.