BOARD ACTION: Board Approves Projects for Three Established Companies in Iowa
For more information contact:
Kanan Kappelman, Iowa Economic Development Authority
IEDA Board Approves Projects for Three Established Companies in Iowa
October 16, 2020 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for three legacy companies in Des Moines and Benton and Worth counties, which will assist in the creation of 36 jobs and result in more than $17.5 million in new capital investment for the state.
Electrical Power Products to expand Des Moines facility
Electrical Power Products, a manufacturing company in Des Moines, provides complete power management systems for commercial and utility industries for power generation, transmission and distribution. Serving customers all over the United States and Canada, the company’s main products are relay and control panels, integrated control enclosures and switchgear. The proposed project will add 60,000 square feet of space and will represent a capital investment of close to $5.5 million and will create two jobs incented at a qualifying wage of $26.54 per hour. The board awarded tax benefits through the High Quality Jobs (HQJ) program.
Frontier Co-op to increase capacity in Benton County
A leading supplier of organic herbs and spices since 1976, Frontier Co-op offers a high quality, competitively priced choice that is both environmentally friendly and socially responsible. Located in Benton County, products can be found in grocery stores and specialty shops throughout the United States and Canada. To meet an increase in demand, the company plans to add bottling lines and fillers, as well as expand the warehouse by 22,000 square feet. The project was awarded tax benefits through the HQJ program and represents a capital investment of just over $7.3 million. It is expected to create 24 jobs, of which four are incented at a qualifying wage of $27.84 per hour.
Sukup Manufacturing Co. to expand facility, equipment in Worth County
Sukup Manufacturing Co., headquartered in Sheffield, is the world’s largest family-owned and operated manufacturer of grain storage, grain drying and handling equipment and steel buildings. Their product line includes on-farm and commercial grain bins; portable, mixed-flow and tower dryers; centrifugal and axial fans and heaters; stirring machines; bin unloading equipment and bin floors and supports. The company also manufactures material handling equipment. The proposed project will expand their existing footprint in Manly, adding 24,000 square feet of metal building space that will include new equipment. Representing a $4.7 million capital investment with the expected creation of 10 jobs at $19.09 per hour, the board awarded the project tax benefits through the HQJ program.
# # #