IEDA Board approves assistance for three companies in Iowa
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Ms. Kanan Kappelman
515.348.6248
communications@iowaeda.com
IEDA Board approves assistance for three companies in Iowa
February 17, 2023 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for three Iowa companies, which will assist in the creation and retention of 364 jobs and result in nearly $75.5 million in new capital investment for the state. These projects are located in Elkader, Manning and Oskaloosa.
Mobile Track Solutions to upgrade Elkader facility
Mobile Track Solutions, LLC develops and manufactures quality construction-grade equipment, including tractors, scrapers and towed implements. The company plans to make improvements to their Elkader facility, which will result in the ability to manufacture additional equipment as well as make further investments in research and development. The project represents a nearly $4 million capital investment and is expected to create 30 jobs incented at a qualifying wage of $18.44 per hour. The board awarded tax benefits and a $250,000 forgivable loan through the High Quality Jobs (HQJ) program.
Puck Custom Enterprises to make investment in Manning facility
Founded in 1979, Puck Custom Enterprises designs, develops and manufactures complete systems of equipment to pump liquid through lay-flat hose, offering products under the brands BullDog Hose, US Coupling and Light Speed. The company plans to invest in its Manning facility with new manufacturing equipment. The project represents a $3 million capital investment and was awarded tax benefits and a $150,000 forgivable loan through the HQJ program. It is expected to create 40 jobs incented at a qualifying wage of $19.75 per hour.
Clow Valve to modernize Oskaloosa facility
Clow Valve Company, with a foundation in Oskaloosa since 1909, produces valves and fire hydrants for water distribution systems throughout the U.S. The company plans to continue investing in their iron foundry by replacing outdated equipment with state-of-the-art equipment and automation. The project will allow Clow Valve to continue operations and retain 294 employees at a qualifying wage of $24.55 per hour. It represents a capital investment of $68.5 million and the board awarded tax benefits through the HQJ program.
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Download a spreadsheet with today's awards here.
