General Mills is considering an expansion of its production plant in Cedar Rapids, but it’s asking for state tax credits to help finance the $60 million project. Governor Terry Branstad says the decision will be made by leaders and staff in the Iowa Economic Development Authority — the public-private agency that now runs state economic development efforts.
“But obviously that’s the kind of thing we’re interested in,” Branstad says.
Company executives plan to convert 10-thousand square feet of warehouse space into a food production area, ultimately putting 41 more people to work in the facility, with an average annual salary of $57,000. About 600 employees already work at the plant.
“Cedar Rapids is a major food processing center and you have General Mills and Quaker Oats and ADM and I don’t know how many others,” Branstad says. If General Mills secures the state tax credits, company officials say the expansion of its Cedar Rapids plant could begin in mid-2014 and be completed in 2015. General Mills brands includes Pillsbury dough, Betty Crocker cake mixes, Cheerios and Chex cereals, Gold Medal flour and Bisquick.