Deere plans expansion of Ankeny plant

Deere & Co., Iowa’s largest manufacturing employer, is proposing a 300,000-square-foot expansion of its agricultural equipment plant in Ankeny, according to documents filed today with the Iowa Economic Development Authority (IEDA). The Moline, Ill.-based company plans to invest $35 million in construction costs for the project, along with $32.8 million in machinery and equipment and $45 million in research and development expenditures. The IEDA board is scheduled to consider Deere’s request for tax-credit benefits when it meets Friday. Deere recently reported $2.8 billion in annual profits, a 50 percent increase over 2010, and forecast a 15 percent increase in global sales for 2012.

Deere & Co., Iowa’s largest manufacturing employer, is proposing a 300,000-square-foot expansion of its agricultural equipment plant in Ankeny, according to documents filed today with the Iowa Economic Development Authority (IEDA).

The Moline, Ill.-based company plans to invest $35 million in construction costs for the project, along with $32.8 million in machinery and equipment and $45 million in research and development expenditures.

The IEDA board is scheduled to consider Deere’s request for tax-credit benefits when it meets Friday.

Deere recently reported $2.8 billion in annual profits, a 50 percent increase over 2010, and forecast a 15 percent increase in global sales for 2012.