Iowa businesses seek state incentives to expand
Iowa Economic Development Authority is considering financial incentives for several proposed business expansions.
General Mills Cereals is proposing a $58 million project to convert warehouse space in Cedar Rapids to a food manufacturing area. The company wants a $200,000 loan, $3.2 million in state tax credits, and $85,000 in Alliant Energy tax rebates. The project would create 41 jobs.
Loffredo Gardens, a fresh produce distributor, is proposing to build a $7 million food processing facility in Norwalk, creating six new jobs. The company is seeking 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 wants a $50,000 forgivable loan and $2 million in tax credits.