OSLO: Economic Development Authority awarded direct financial assistance and tax benefits to companies in Story City, Belle Plaine, Benton County, Urbana, Cedar Falls, Urbandale and Clarksville that plan to invest about $81 million in new capital investment.
In Story City, Iowa, American Packaging Corporation is an integrated, flexible packaging converter specializing in flexographic and rotogravure printing, multi-ply extrusion and adhesive lamination of film, paper and foil. In order to stay competitive with the market, the company’s proposed $44 million expansion would add two new printing presses, a tri-plex laminator, ancillary equipment and a building addition, giving the facility more capacity to enable growth. The board approved a $470,000 forgivable loan and tax benefits through the High Quality Jobs Program to create 94 jobs at a qualifying wage of $23.21 per hour.
Natural products company, Frontier Co-op, which specializes in natural and organic products, is proposing expansion in three Iowa locations: Belle Plaine, Benton County and Urbana.
The Belle Plaine expansion includes the purchase of a new building to serve as a warehouse and distribution center for the co-op’s Simply Organic and Aura Cacia brands. The proposed project would result in a capital investment of $2.8 million and create 16 jobs, two of which are incented at a qualifying wage of $15.76 per hour. The board approved tax benefits through the HQJP.
In Benton County, Frontier Co-op’s proposed expansion includes the addition of a new bottling line and renovation of the food and flavorings facility in Norway. The $8.4 million project will increase capacity and also allow Frontier Co-op to maintain compliance with new food safety and sanitation regulations. The board awarded the company $82,500 in direct financial assistance as well as tax benefits through the HQJP to create 23 new jobs, of which 11 are incented at a qualifying wage of $19.54 per hour.
The proposed project in Urbana includes an addition of heated/cooled space on Frontier Co-op’s existing production/warehousing facility. The facility will mostly warehouse bulk essential oils and related aromatherapy products. The expansion will also include an additional bottling line for the essential oils and distribution equipment and will have a capital investment of $4.4 million. The board approved tax benefits through the HQJP for the creation of six jobs, with one incented at a qualifying wage of $17.01 per hour.
In Cedar Falls, Martin Brothers, a food service distributor, proposed an expansion project would add approximately 77,000 square feet to the dry goods, refrigerated and frozen food areas of the company’s existing Cedar Falls Industrial Park distribution facility. The board approved tax incentives for this expansion that would create 35 new jobs, with 16 incented at a qualifying wage of $19.13 per hour. The proposed project will have a capital investment of $16 million.
