BOARD ACTION: Board Approves Awards to Support More than $21 Million Capital Investment
For more information contact:
Jacque Matsen, Iowa Economic Development Authority
Economic Development Board approves awards to support more than $21 million in capital investment in Iowa
April 20, 2018 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) board awarded tax benefits to two companies for job creation and expansion projects. These awards will assist in the creation of 43 jobs and will result in more than $21 million in new capital investment for the state.
The board approved assistance for planned or proposed projects located in Des Moines and Hiawatha.
The Printer, Inc. to construct new facility in Des Moines
The Printer, Inc. (TPI) is a technology-based direct mail printing company producing monthly customer loyalty mailings for more than 200 casinos across the United States and Canada. Due to significant growth, TPI has outgrown its current facility. TPI plans to construct a new facility in Des Moines, bringing all Iowa employees under one roof, as well as expanding its current business and workforce. The board awarded TPI tax benefits from the HQJ program for this $13.1 million capital investment. The project is expected to create 15 jobs, of which 10 are incented at a qualifying wage of $29.12 per hour.
Hiawatha manufacturer receives assistance to expand
World Class Industries, Inc. (WCI) is a contract assembler of modules and products for Original Equipment Manufacturers, working primarily with off-road equipment manufacturers. The current Hiawatha facility cannot accommodate its growth and need for additional staff. WCI plans to construct an additional 50,000 square foot office and warehouse space on 13 acres. The board awarded WCI tax benefits from the HQJ program for this $7.9 million capital investment. The project is expected to create 28 jobs, of which 16 are incented at a qualifying wage of $24.91 per hour.
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Download a spreadsheet of today's awards: