BOARD ACTION: Board Approves Projects From Three Established Companies in Iowa
For more information contact:
Kanan Kappelman, Iowa Economic Development Authority
Phone: 515.348.6248
Email: communications@iowaeda.com
IEDA Board Approves Projects from Three Established Companies in Iowa
August 21, 2020 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for three legacy companies in Cedar Rapids, Nevada and Sioux City, which will assist in the creation of 135 jobs and result in more than $65 million in new capital investment for the state.
General Mills to upgrade, modernize production line in Cedar Rapids
General Mills, a global food company that produces and markets more than 100 consumer brands in more than 100 countries, makes cereal, fruit snacks and frosting from its Cedar Rapids facility. This project proposes to modernize an existing production line to increase production capacity. Investment will be made on upgrades to existing production equipment and for new, more efficient machinery and equipment. The board awarded the project tax benefits through the High Quality Jobs (HQJ) program. The project is a $37 million capital investment and is expected to create 50 jobs, of which three are incented at a qualifying wage of $23.20 per hour.
Nevada company to expand facility, modernize equipment
Mid-States Material Handling and Fabrication, located in Nevada, is a metal fabrication company in the agri-business and custom metal fabrication markets. The company primarily makes grain handling equipment ranging from grain drag conveyors to structural I-beams, four-legged metal towers that support catwalks and bucket elevators. The company has been in business since 2011 and serves grain elevators, co-ops, ethanol plants and feed processing facilities. The proposed project will expand the current facility by 40,000 square feet. The company will also acquire state-of-the-art fabrication equipment. The board awarded the project, a nearly $3.2 million capital investment, tax benefits through the HQJ program. It is expected to create nine jobs, one of which is incented at a qualifying wage of $27.07 per hour.
Sabre Industries, Inc. to add galvanizing site in Sioux City
Sioux City’s Sabre Industries, Inc. offers a full line of engineered telecom structures such as self-supporting and guyed towers, monopoles, concealment products and small cell products, as well as highly-engineered support structures for electric transmission and distribution, oil and gas, renewable energy and government and defense end markets. Sabre also has the capability to design, fabricate and install tower and monopole modifications. The project, a $25 million capital investment, will add a new galvanizing site at the Southbridge facility in Sioux City, which will support the company’s product line for telecommunications and utility infrastructure and allow for third party customers to utilize the facility. The project, which received tax benefits through the HQJ program, is expected to create 76 jobs, 13 of which are incented at a qualifying wage of $23.47 per hour.
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Download a spreadsheet with today's awards:
iowaeda.com/UserDocs/news/aug20awards.pdf
