The Iowa Economic Development Authority (IEDA) board approved state development funding for Liberty Diversified International (LDI) for a project in Milford.
Economic Development Authority spokesperson, Brooke Miller, says the award will help the company’s Safco Products subsidiary, which make furniture, paper, packaging and other office products.
She says they are expanding their production capacity and are buying an existing building in Milford. Millers says the state gave them $500,000 in direct funding. The board also approved tax benefits of around $15,000 dollars on the purchase of equipment.
“The project is expected to create 100 news jobs at a qualifying wage of 16-83 per hour,” according to Miller. The building LDI is purchasing used to house the Polaris plant, which the company announced in April it is closing down.
“It’s a great reuse of this location and it’s going to backfill some of the jobs that are lost by the Polaris move,” Miller says. The company plans to spend some $15 million on the entire project.
