One of the largest capital investments in the state’s history has received a final formal stamp of approval. The Woodbury County Board of Supervisors this week approved tax incentives for a $1.7-billion expansion of CF Industries, a nitrogen fertilizer facility located south of Sioux City.
Larry Clausen is chairman of the Woodbury County Supervisors. “It’s been a real pleasure dealing with CF. A lot is going to be done down there,” Clausen said. The board originally approved the project last November, but the agreement called for formal resolutions to finalize the deal. Only Supervisor David Tripp voted against the development agreement between Woodbury County and CF.
Tripp said he voted no because of the way the “memorandum of understanding” was handled. “I just feel like CF handed us this golden egg and…I don’t feel they (CF) were treated fairly,” Tripp said. “But, they’re happy and they wanted us to sign (the memorandum). I just didn’t want to sign it.” Tripp declined to elaborate on exactly what he was unhappy with in the agreement, but said the final agreement should have been signed months ago.
The Iowa Economic Development Authority has also approved state tax incentives for the CF Industries expansion, which is expected to create around 100 new jobs with an estimated starting salary of $55,000. CF Industries officials have said the project should be completed by 2016.
(Reporting by Woody Gottburg, KSCJ, Sioux City)