The Iowa Economic Development Authority board approved help Thursday for a new Kraft Heinz Foods plant in Davenport, KCCI reported. Tax benefits totaling $1.75 million and direct financial assistance of $3 million was approved. The $3 million will be used to demolish the old plant and prepare the site for redevelopment. Kraft Heinz announced Wednesday that it plans to close seven plants across the U.S. and its aging current plant in Davenport. The plant makes Oscar Mayer products and is the largest bologna plant in the world.