The Iowa Economic Development Authority Board has approved tax credits for four manufacturing companies, with the promise of creating of 312 jobs.
Economic Development spokesperson, Kanan Kappleman says Webster City Custom Meats received tax credits. “The company plans to install a new automated bacon packaging line to increase productivity,” she says. She says the company was established in 1973. “This two-point-five million dollar capital investment project is expected to create two maintenance related jobs, and the board awarded the company $39,000 in tax credits,” Kappleman says.
A Wapello company is also getting tax credits. “S&J Tube in Wapello manufactures and fabricates steel products for the office furniture industry. The company plans to expand its manufacturing capabilities by enhancing its roll forming operations, which is a process that shapes steel into uniform components,” she says. The company plans to enhance its production process while also developing 3D manufacturing capabilities. “This two-point-four million dollar capital investment is expected to create ten jobs, and the board awarded the company $177,000 in tax credits,” she says.
Geater Machining and Manufacturing in Independence plans to expand its machining and fabrication services and add 100 new jobs. “The company plans a 30,000 square foot expansion to increase production capacity by approximately 33 to 40 percent. The project also includes additional manufacturing space, a new visitor entrance, and new manufacturing equipment,” Kappleman says.
Electrical Power Products in central Iowa is expanding its production of electrical power control and protection systems. “To support growing customer demand, the company plans to expand its existing Des Moines campus by approximately 420,000 square feet,” she says. Kappleman says this company promises to create many new jobs with the expansion. “The project represents a 42-million-dollar capital investment, and it’s expected to create 200 jobs. And the board awarded the company approximately two million dollars in tax credits,” Kappleman says. The company promises 150 positions at a qualifying wage of nearly 32 dollars and hour.