DES MOINES - The Iowa Economic Development Authority (IEDA) Board recently awarded direct financial assistance and tax benefits to eight companies for job creation and expansion projects, six of which will benefit rural Iowa communities. These awards will assist in the creation of 299 jobs and will result in over $80 million in new capital investment for the state. The board also approved innovation funding for three startups.
The board approved assistance for planned or proposed projects located in Albia, Cedar Rapids, Cresco, Denison, Des Moines, Fort Madison, North Liberty, Perry, Urbandale, Walcott and Waukee.
Tyson Fresh Meats receives assistance for Perry expansion project
Tyson Fresh Meats, Inc., a wholly owned subsidiary of Tyson Foods, Inc., is a supplier of premium beef and pork. The company’s Perry facility plans to construct a new chilling system to improve product quality and efficiencies. By modernizing current processes, additional training will be required for existing employees. The board awarded tax benefits from HQJ for this $43.7 million capital investment.