TPI Composites Inc., the Scottsdale, Ariz.-based wind turbine blade manufacturer, will receive financial assistance from the state for a $3.2 million project to restart production at its Newton facility that’s been closed since 2021.

The Iowa Economic Development Authority board voted today to award the subsidiary TPI Iowa LLC a $500,000 forgivable loan on a five-year contract that, according to a project report from the state agency, will aid the company’s plan to restart two production lines that previously produced wind blades and created 320 jobs.

TPI began operations in Newton in 2008, retrofitting a manufacturing building left vacant when Whirlpool Corp. moved Maytag Corp.’s corporate headquarters and operations out of Newton in 2007 after its acquisition of the appliance manufacturer.

The wind blade maker operated in the town of 15,600 people just east of the Des Moines metro area for 13 years, according to the IEDA report. TPI told the Des Moines Register in November 2022 that it had signed a 10-year lease agreement for the Newton manufacturing plant upon finalizing a deal with GE Renewable Energy to produce blades for its wind turbine manufacturer in the United States.

TPI has been working on its plans for the facility ever since, and IEDA documents show the company expects to complete its upgrades to the plant in June.

A cost breakdown in the report shows TPI plans to spend $495,000 on the building remodel, $2.22 million on machinery and equipment, $300,000 on computer hardware, and $200,000 on furniture and fixtures.

IEDA staff said during the meeting today that the state award is contingent on sponsorship of the company’s application by the city of Newton. The project report says six people currently work at TPI’s Newton facility, and the 320 new jobs would meet the area laborshed wage requirement of $23.81 per hour.

Before it paused plant operations, TPI was the largest employer in Jasper County, where Newton is the county seat, employing nearly 750 people, the Newton Daily News reported at the time.

The restart of wind blade production in Newton comes as Iowa continues to lead U.S. states in electricity generated by wind power; 59% of Iowa’s electricity was generated by wind turbines in 2023, according to the U.S. Energy Information Administration.

International Paper Co.

The IEDA board also awarded a $6.17 million tax credit and refund package today to International Paper Co. for its planned $260 million, 900,000-square-foot facility in Waterloo.

According to IEDA board documents, the Memphis, Tenn.-based company plans to acquire land for the project through a land swap with the city of Waterloo.

The IEDA report says the city will provide International Paper with a 15-year, 50% tax abatement for the project, estimated at $9.78 million, as well as provide a $2 million rail spur for the site.

In total, the project is expected to receive $17.95 million in combined state and local incentives. The IEDA award is through the state’s High Quality Jobs program. The state economic development agency’s report shows the project will create 90 jobs at $23.01 per hour.

The state’s investment will come from a $2.4 million investment tax credit and a $3.77 million sales and use tax refund, according to the project report.  

International Paper currently operates four facilities in Iowa, according to its website, including a container plant in Waterloo. Its other locations include a containerboard mill and container plant in Cedar Rapids and a recycling plant in Des Moines.

A project timeline shows International Paper expects to complete the land acquisition this month. Construction could begin in January 2026, with equipment installation by September 2026. The IEDA award contract’s performance metrics expects the project’s total completion by January 2028.  

International Paper is a global producer of renewable corrugated packaging and cellulose fibers. Its locations in Iowa manufacture material for fiber-based packaging products for the e-commerce, processed food and beverage industries, as well as for fruit, vegetable and protein products, distribution and durable and nondurable goods, according to the IEDA report.

“Other corrugated manufacturers in Iowa include PCA in Marshalltown and West Rock in Cedar Rapids. This is a national market with various applications and the project is not anticipated to impact competitors,” the report says.