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Iowa businesses seek state incentives to expand

by KIX101.1 /1230 KFJB News Department posted Jan 17 2014 9:43AM
~  DES MOINES, Iowa (AP) - Iowa Economic Development Authority is considering financial incentives for several proposed business expansions.
 
     General Mills Cereals is proposing to convert warehouse space in Cedar Rapids to a food manufacturing area. The project cost is $58 million. The company wants a $200,000 loan, $3.2 million in state tax credits, and $85,000 in Alliant Energy tax rebates. The project creates 41 jobs.
 
     Loffredo Gardens, a fresh produce distributor, proposes to build a $7 million food processing facility in Norwalk. The company, creating six new jobs, seeks up to $401,000 in tax credits.
 
     Carter Lake steel fabricator Owen Industries is proposing a $34 million project to build a new factory adding 16 jobs. The company seeks a $50,000 forgivable loan and $2 million in tax credits.
Filed Under :
Topics : Business_Finance
Location : Des MoinesIowa
01/17/2014 9:45AM
Iowa businesses seek state incentives to expand
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