State financial assistance awarded to 7 business projects
November 17th, 2012 by Ric Hanson
The Iowa Economic Development Authority (IEDA) Board on Friday awarded financial assistance to seven business projects in the state that are expected to create 120 new jobs. IEDA spokesperson Tina Hoffman says the biggest project involves an expansion by DuPont Pioneer in Johnston. “They’re going to make a $13 million capital investment and create 100 additional jobs. That’ll involve the construction of office space and greenhouse space,” Hoffman said. The new jobs are expected to pay an annual salary of nearly $88,000.
The state will provide DuPont Pioneer with up to $4.4 million in tax credits. Part of the project involves moving some operations and jobs now in Ankeny to Johnston. Excel Engineering, located in the small southwest Iowa town of Diagonal, was awarded nearly $86,000 in tax credits. The engine testing and natural gas engine design firm is planning an expansion that’ll create 10 new jobs. Grain Millers, Incorporated – located in St. Ansgar – is also planning an expansion that’ll create 10 jobs.
“They’re going to be constructing a new facility, improving an processing line, adding a packaging line and purchasing equipment,” Hoffman said. Grain Millers was award $550,000 in tax credits. The IEDA Board also approved awards to “start up” companies located in Fairfield, Esterville, Urbandale and Iowa City.