(State) Iowa Economic Development Authority is considering financial incentives for several proposed business expansions.
General Mills Cereals is proposing to convert a 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. That project could create 41 jobs. Loffredo Gardens, a fresh produce distributor proposes to build a $7 Million food processing facility in Norwalk. That company is creating six new jobs and is seeking $401,000 in tax credits. Carter Steel Fabricator Owen Industries is proposing a $34 Million project to build a new factory adding 16 jobs. The company is seeking a $50,000 foregiveable loan and $2 Million in tax credits.
Iowa Radio Network