The Iowa Economic Development Authority has approved incentives for six companies that will create more than 600 jobs. According to IEDA board documents, the projects will result in nearly $265 million in capital investment in Iowa.

On Friday, the Business Record shared a story from the Cedar Rapids Gazette about $2.56 million in tax credits to Wisconsin-based refrigeration company Sub-Zero, which wants to build a 400,000-square-foot facility near Cedar Rapids and create nearly 200 jobs. Other awards approved by the IEDA board Friday were:

  • $200,000 in forgivable loan and tax benefits to Western’s Smokehouse and Meat Market. The company, which makes meat snacks in Missouri and Illinois, plans to lease an existing facility in Burlington to make snack meat sticks. The $19.7 million project is expected to create 150 jobs, 45 of which will pay a qualifying wage of $18.94 per hour.
  • $3.4 million in refundable tax credits to Fair Oaks Foods. The company plans to lease a newly built 150,000-square-foot facility in Davenport to produce fully cooked bacon. The $44 million project will create 247 jobs, including 78 that will pay a qualifying wage of $21.97 per hour. The company will also receive more than $3.6 million in tax increment finance benefits from the city of Davenport.
  • $1.1 million in tax credits and refunds to Valent BioSciences to expand its facility in Osage. The producer of microbial products for agriculture, public health and forestry plans to add a small scale fermentation area and office space and storage. The $32.25 million project will add 10 jobs that pay a qualifying wage of $23.71. The company will also receive $650,000 in tax increment financing from Mitchell County.
  • $322,550 in tax credits and refunds to Centro Inc. to buy a building and lot adjacent to its facility in Hampton. The company makes plastic products for original equipment manufacturers in the agricultural, construction, and lawn and garden industries. The project will include building improvements and the addition of two rotational molding machines. The $5.27 million project will create 28 jobs, 16 of which pay a qualifying wage of $24.18 per hour. The company will also receive tax increment financing valued at  $137,000 for the project.
  • $560,155 in tax credits and refunds to Clarios to increase its manufacturing capacity in Red Oak. The company plans to add 22,000 square feet for a new manufacturing line, as well as improvements to cooling and ventilation systems in its current facility. The company develops, manufacturers and distributes a variety of battery technologies for virtually every type of vehicle. The $23.58 million project will create 13 jobs that pay a qualifying wage of $21.20 per hour. The company will also receive $461,625 in tax increment financing from the city of Red Oak.