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The Iowa Economic Development Board's approval Thursday of $400,000 in loans "locked in the company's choice of Independence" for the project, said Dave Hogberg, Tyson's general manager of pet products.
The City Council had earlier approved a $96,000, 10-year tax increment financing package, and an exemption allowing the company to use its own well rather than city water -- which will save $698,000 over 10 years, Hogberg assured members of the community that the plant, in a northwest-side residential area, will be "over-engineered" to manage waste and control emissions and odors.
Raw materials will be brought to the plant under refrigeration, he said. The product line will use about 40,000 square feet of space, but may expand later to 100,000 square feet, for a total 100 jobs.
Former Tyson employees are expected to be strong candidates for the 60 new jobs opening next month.
Also Thursday, the state Economic Development Board approved:
--A $5 million incen tive package for Wacker Chemical Corp., which plans to spend $87 million to build a fermentation plant in Monroe County, creating 38 high-paying jobs by 2012.
--$200,000 for a revolv ing loan fund for local business assistance in nine communities, including the Czech Village/ New Bohemia area of Cedar Rapids and Waterloo's downtown district.
The board also granted disaster recovery application waivers and approved state assistance for three projects in Cedar Rapids:
--Raining Rose, which manufactures natural body care products, $260,000, retaining 51 jobs.
--JRS Pharma LP, which makes ingredients for pharmaceutical tablets, $145,000, retaining 30 jobs.
--Iowa Screenprint Co.
which does business as Bimm Ridder Sportswear, $100,000, to retain 18 jobs.
Rod Boshart of the Des Moines Bureau contributed to this report.
-- Contact the writer: (319)-9343172 or orlan.love@gazcomm.com
To see more of The Gazette, or to subscribe to the newspaper, go to http://www.gazetteonline.com. Copyright (c) 2009, The Gazette, Cedar Rapids, Iowa Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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