Maquoketa attracts hydraulic controls plant
(Gazette, The (Cedar Rapids, IA) (KRT) Via Thomson Dialog NewsEdge) Apr. 18--A package of state incentives approved Thursday will help Maquoketa land a $15 million hydraulic controls plant that is expected to employ 170. HUSCO International was awarded incentives to renovate, expand and equip an existing building in Maquoketa in an action by the Iowa Department of Economic Development board in Des Moines.
The new facility will house new product lines being introduced by HUSCO in 2008, and will incorporate high-tech nology manufacturing cells developed for the company's next-generation manufacturing. The cells include mistakeproofing technologies including intelligent vision systems.
HUSCO, based in Waukesha, Wis., supplies hydraulic controls to Deere & Co., Case New Holland, and other offroad equipment suppliers. The company announced in February that it was planning to build its third major manufacturing facility in North America. It said Iowa, Wisconsin, Georgia, North Carolina and Kansas were possible locations for the plant.
The incentives included $800,000 from the Economic Development Set-Aside pro gram and Enterprise Zone benefits.
The IDED board separately approved incentives for plants to produce wind turbine components, decorative metal containers, structural steel assemblies, ethanol and seed corn. They include:
--Tax benefits and direct incentives to Trinity Structural Towers to convert a 300,000square-foot manufacturing building in Newton for assembly of wind turbine towers. Trinity is expected to qualify for $649,100 in state tax credits for the project under the High Quality Jobs Creation program, in addition to a $630,000 forgivable loan from the Physical Infrastructure Assistance Program. The plant is expected to create 140 jobs with an average wage of $19.05 per hour.
--Tax benefits and direct incentives to Independent Can Co. for building and equipping a $5 million plant in Fort Madison to expand production of decorative metal containers. The IDED board approved $100,000 from the Community Economic Betterment Account program, tax benefits to expand in an Enterprise Zone, and the Targeted Jobs Withholding Tax Credit. The plant expects to create 10 jobs and retain 10 jobs at an average wage of $18.20 per hour.
--Tax benefits and direct incentives to Pioneer Hi-Bred, a DuPont subsidiary, for multi ple projects. They include a $4 million investment in a warehouse expansion and a new dryer at the Durant seed plant. The project is expected to create one job at an average wage of $19.23 per hour.
--Tax benefits and direct incentives to Golden Grain Energy in Mason City for a facility to produce biodiesel from corn oil byproducts of ethanol production. The project is a partnership known as Corn Oil Bio-Solutions LLC between Golden Grain Energy and BEST Energies using proprietary technology. It is expected to create 11 jobs at wages averaging $20 per hour.
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