Clow Valve, among the McWane Inc. family of companies, began construction to expand its iron foundry with a $75 million investment that will add 36,000 square feet to its footprint.

The Oskaloosa City Council unanimously approved the project in February for its Iowa Economic Development Authority High Quality Jobs Program application. The program assists qualifying businesses with offsetting some of the costs incurred to locate, expand or modernize an Iowa facility.

As a primary employer in the Oskaloosa community, Clow Valve will retain 439 jobs in the area in the next five years with the expansion. The company has an annual payroll of more than $34 million and a yearly economic impact of $157 million. By replacing manufacturing equipment as old as 45 years, the plant expects to nearly double production output.

“For more than a century, products critical to our nation’s infrastructure have been produced in Oskaloosa,” Mark Willett, vice president and general manager of Clow Valve, said in a prepared statement. “The tax credits approved by the Iowa Economic Development Authority toward updating our foundry underscore the future of our operation. We have made significant capital investments in recent years and remain committed to supporting the local community through philanthropic outreach and volunteerism.”