A state board has voted to extend tax breaks to a company planning to hire 65 more people once its Red Oak facility has expanded.
Parker Hannifin is a Fortune 250 company that makes hydraulic equipment for aerospace and industrial uses. The company plans to spend $2.5 million to expand its plant in Red Oak. The Iowa Economic Development Authority’s board has approved tax incentives to offset all or part of that investment. In June, the Southwestern Community College Board of Directors approved using $590,000 worth of bond money to finance job training for the company’s 65 new employees.
Family-owned Osmundson Manufacturing in Perry is getting state tax breaks for a $19 million expansion. The facility makes blades for agricultural equipment and the company plans to hire 17 more employees once the expansion is done.
The Iowa Economic Development Authority board also extended tax breaks for remodeling a building in Waterloo that will become home for a garment business. Dignity Apparel uses fabrics made in the U.S. and marketed under the Image Pointe brand. The $4.5 million project includes the purchase of equipment and software. The company says it will hire seven employees to work at the facility.
