Friday, the Iowa Economic Development Authority (IEDA) Board approved tax credits for six manufacturing companies, which will assist in the creation of 346 jobs and result in nearly $246.5 million in new capital investment for the state. These projects are located in Altoona, Ankeny, Bondurant, Centerville, Davenport and Woodbine. The board also approved assistance for two startups in Ankeny and Des Moines. In addition, a project in Des Moines received a Destination Iowa grant, and projects in Jewell and West Point received Community Attraction and Tourism (CAT) grants.
Founded in Woodbine in 1965, family-owned Woodbine Manufacturing Co. designs and produces hydraulic liftgates and cargo-handling equipment for commercial vehicles under the Tommy Gate and Anteo brands. The company plans to construct a new manufacturing facility in Harrison County to increase production capacity, expand existing product lines and add new products. The $58 million capital investment is expected to create 20 jobs, all incented at a qualifying wage of $27.75 per hour. The board awarded $2.18 million in tax credits through the BIG program.
