DES MOINES — The Iowa Economic Development Authority (IEDA) Board has approved awards for five Iowa companies, with three of them including local businesses.
One of them includes Weiler Inc., which is headquartered in Knoxville. The company manufactures asphalt paving equipment. Their plan is to improve existing infrastructure and increase its current footprint with the construction of a plate processing facility, which is currently outsourced.
The project represents a capital investment of nearly $23 million and was awarded a $1 million in direct financial assistance as well as tax benefits through the HQJ program. It is expected to create 101 jobs, of which 72 are incented at a qualifying wage of $22.63.
Another business involved in the project in the family-owned Vermeer Corporation located in Pella. The company manufactures agricultural and industrial equipment with customers in more than 80 countries. The products range from horizontal directional drills and mast pile drivers to agriculture mowers, rakes and balers.
The company plans to construct a new parts distribution facility on its Pella campus and repurpose a facility for product and field training.
The project is expected to create 100 jobs, of which 75 are incented at a qualifying wage of $22.62. It represents a capital investment of nearly $44 million and was awarded tax benefits through the HQJ program.
Lastly, Pella Corporation received an economic award, though their project is outside of Pella. The company designs, tests, manufactures, and installs quality windows and doors for new construction, remodeling and replacement applications for home and commercial markets.
The company plans to expand the manufacturing of their popular wood window line to their Shenandoah location, which will require the purchase and installation of equipment.
The board awarded this $5.6 million capital investment project a $200,000 forgivable loan through the HQJ program. It is expected to create 120 jobs at a qualifying wage of $20.58 per hour.
The awards were announced on Friday from the IEDA Board, aiming to create 407 jobs and $132 million in new capital investment for the state.
Iowa companies that will assist in job growth for this project are Fort Dodge’s Elanco and Nevada's ALMACO. The board also approved innovation funding in support of two startups located in Des Moines and DeWitt.