MG Waldbaum Co., a subsidiary of Minnesota-based Michael Foods Inc., will receive state incentives for a manufacturing and distribution center in Norwalk where precooked eggs will be processed. The Iowa Economic Development Authority board had been asked to approve a $3.9 million package made up of $3.4 million in investment tax credits and $492,450 in sales, service and tax rebates. The state incentives will support 17 jobs at an hourly wage of $24.38. In all, the $85 million project is expected to generate 168 jobs. To offset what were described as high costs of development, property taxes and utilities, the Norwalk City Council has approved a bulk water user rate, a tax increment finance rebate with an estimated value of $9.7 million over 20 years and a $73,000 grant that would be tied to the creation of qualifying full-time jobs. A release from the city of Norwalk said the company, a division of Post Holdings Inc., selected a location in its state-certified industrial park after considering sites in Nebraska and elsewhere in the Midwest. Michael Foods said in a release that the 150,000-square-foot facility could be completed in 2019. The company also has operations in Britt and Lennox. The company describes itself as the largest processor of value-added eggs in the United States. Read more