Economic Development Board Approves Financial Assistance for 14 Companies
March 22nd, 2013 by Ric Hanson
The Iowa Economic Development Authority (IEDA) board today (Friday), awarded direct financial assistance and tax benefits to 14 companies for job creation, expansion and small business development projects. The awards will assist in the creation of 271 jobs, retention of 13 jobs and will result in over $85 million in new capital investment for the state. The board approved assistance for planned or proposed projects located in 12 communities, including Council Bluffs, where scrap processor Alter Trading was awarded tax benefits for a $20 million capital investment that is set to create 15 jobs. The project entails the building of a new non-ferrous plant that will help Alter grow in the central region of the United States as well as make their current operations more efficient.
Founded in 1898, Alter Trading – a privately owned, fourth generation company – is one of the largest scrap processors in the country with trading offices and processing plants across the central United States.