The Iowa Economic Development Authority (IEDA) Board today approved awards for four Iowa companies.
Cargill received state tax benefits to modernize its Fort Dodge facility equipment where it makes food ingredients from corn. They will also implement a job training initiative to increase skills and wages for employees.
Cold-Link Logistics of Miami, Florida was given state incentives to construct a multi-phased cold storage facility. Sioux City economic development director Marty Dougherty says it will be the first project at the city’s Southbridge Industrial site.
He says the facility will be 185,000 square feet cold storage facility employing 60 people with a cost of $60 million. Dougherty says there will be later phases that could bump it up to 500,000 square feet. He says the initial phase will include cold storage warehousing with approximately 20,000 pallet positions and blast freezing, plus truck docks and mechanical areas to compliment other local business needs.
Dougherty says the service is needed in food processing and it will provide rail shipping from this location. The initial 60 jobs include 50 production staff at an hourly wage of over 23 dollars an hour. Construction is expected to begin in March with an expected opening date in early 2023.
Hydrite Chemical was awarded tax benefits to help expand its Waterloo facility which manufacturers and distributes chemical products in the U.S. They also plan to expand the transportation fleet and warehouse space. The project represents a $21 million capital investment and is expected to create 20 jobs at a qualifying wage of $20 an hour.
Buena Vista County Platinum Crush was awarded tax benefits to develop a soybean crushing facility near Alta in Buena Vista County. The company predicts the facility will crush 38 million bushels of soybeans annually when fully operational in 2024. The facility will also produce soy oil that can be used for a variety of applications, including livestock feed, the human food industry, and renewable biodiesel.
The project is expected to create 51 jobs at a qualifying wage $22.63 an hour. The company is investing nearly $360 million in the project.