Jefferson City, Missouri Scores Economic Development Win With CCP Relocation

Continental Commercial Products, a subsidiary of Katy Industries, Inc., announced plans to relocate their manufacturing and warehouse operations to Jefferson City, MO.

CCP

CCP (photo – jcchamber.org)

Supported by Cole County and Jefferson City economic development incentives, the Jefferson City Area Chamber of Commerce and the property owners, the company is leasing the former RR Donnelley building.

The 653,000-square-foot facility dates back to 1967, but has been vacant since RR Donnelley closed its operations in Jefferson City in Oct 2013 and let go 475 employees. The CCP deal fills a major part of the facility and brings back many of the jobs that were lost.

CCP is leasing 534,000 square feet in the building and plans to create up to 200 new jobs for Jefferson City and Cole County, with operations at the new facility slated to begin by the end of the year.

The company’s janitorial and food service cleaning products manufacturing operations are currently located in Bridgeton, MO. Apart from the RR Donnelley site in Jefferson City, the company also considered other locations St. Louis, MO; Fort Wayne, IN and Vandalia, IL for the relocation.

Brian Nichols, vice president for Human Resources, CCP, said in a release announcing the relocation that they commend Jefferson City, Cole County, the Chamber of Commerce and their business partners for the effort they put forward during the selection process.

Nichols added that the benefits associated with this location made Jefferson City the best option for relocation of their manufacturing facility.

Jefferson City Mayor Eric J. Struemph likewise said in the release that the cooperation between the City, Cole County, the Chamber of Commerce and the owners of the facility all coming together to bring resources and support makes this project a great win for the Jefferson City area.

The package of Cole County and Jefferson City economic development incentives being offered to secure the project include real estate tax abatements and a grant for infrastructure improvements supporting the project. The property owner, 321 Wilson Drive LLC, has additionally agreed to pay Continental Commercial Products, LLC $1,700,000 as a landlord incentive payment for entering into the lease.

Cole County Presiding Commissioner Sam Bushman said in the release that they are pleased the former RR Donnelley building will continue being utilized and operating. Commissioner Bushman added that the 650,000-square-foot facility is a very large property, and they are thrilled there will be new jobs created in the community.

Delaware Launches International Economic Development Website and Export Plan

Delaware is launching a new export initiative and a new website for international economic development that will support export efforts and promote foreign direct investment in Delaware.

Global Delaware

Global Delaware (photo – global.delaware.gov)

Governor Jack Markell announced details about the export initiative and website during a keynote address at the Delaware State Chamber of Commerce Spring Legislative Brunch and Manufacturing Conference.

The initiative, named the Strategic Export Plan for the State, is based on a study conducted by the DE Division of Corporate and International Development (DCID) to determine global locations where Delaware companies can have the most success overseas.

The study identified Canada, Mexico, Germany and South Korea as the key countries with the most buying potential for the products and services that Delaware has to offer. The State has planned trade missions to each of these countries over the next 18 months to give Delaware businesses a chance to see the market. Participants will gain access to foreign buyers and distributors, including through one-on-one matchmaking business meetings.

As part of the initiative, the State is providing a comprehensive suite of services including export counseling, market studies, and financial assistance through grants for eligible export expenses.

During the keynote address, Gov. Markell also unveiled the Global Delaware economic development website, an online platform for promoting Delaware as a business destination in international markets.

The website is organized into three DCID focus areas – invest, expand and incorporate. The invest section pitches Delaware as an ideal location for foreign companies looking to invest and establish new facilities in the United States.

The expand section provides Delaware businesses with information, links and resources to get started with export activities. The incorporate section takes you straight to the State of Delaware’s corporate law website.

In a release announcing the launch of the Global Delaware online platform, Gov. Markell said that companies involved in global trade are 20 percent more efficient, and do 25 percent more business than those who don’t.

“We should do all we can to ensure that Delaware companies get their fair share – or more – of the business opportunities available to them around the world,” said Gov. Markell.

The Global Delaware website also highlights success stories that show how local companies such as Acorn Energy, ANP Technologies, and Elcriton are benefitting from exports and working with the State.

Elcriton, for example, is a Delaware biotech start-up which engineers microorganisms for applications ranging from biofuels production to consumption of waste gas emissions. The renewable chemicals company is getting work from leading chemical companies from all over the world looking for designer microbes.

The startup was founded by Terry Papoutsakis, a chemical engineering professor at the University of Delaware and his grad student Bryan Tracy, who is now CEO of Elcriton. Their profile on the Global Delaware website explains all the ways in which being in Delaware helped the startup tap chemical industry resources and navigate the commercial aspects of the business.

Read more at global.delaware.gov.

Missouri Economic Development Dept Energy Loans to Create 205 Jobs and $1M Savings

The Missouri Department of Economic Development announced that it has awarded $8,581,227 in low-interest energy loans to 28 community organizations and institutions that are undertaking energy efficiency and renewable energy projects.

Missouri DED Energy Loan Program

Missouri DED Energy Loan Program (photo – energy.mo.gov)

These projects are expected to create 205 energy-related jobs and generate estimated energy savings worth $1,086,513 annually through an almost 9.7 million kilowatt hour reduction in electricity usage.

Not to mention more than 7,300 metric tons of reduction in carbon dioxide emissions – equivalent to the pollution produced by 1,539 passenger vehicles.

The DED Division of Energy low-interest loan recipients include 11 city governments and one county government, 13 schools or school districts, two higher education institutions and one hospital.

The Missouri Economic Development Research Information Center estimates that the 28 projects being funded will serve more than 64,000 Missourians and create more than 205 new jobs related to design, installation, retrofitting and construction of projects that range from solar energy installations to lighting upgrades and heating and cooling system replacements.

For example, the City of Maplewood, MO has been awarded a $76,500 loan for a solar project that will produce estimated annual savings of $8,759. Kansas City, MO has likewise been awarded $180,400 for a lighting project that will generate annual savings of $20,661.

One of the biggest loans in this lot has been awarded to the University of Missouri, KC. The university has been awarded $1,806,657 for multiple energy efficiency and renewable energy projects that include solar film, HVAC and DDC-occupancy controls. Together, these projects will help the university save $235,359 in annual energy costs.

Missouri Department of Economic Development Director Mike Downing said in a release announcing the loan awards that Missouri’s energy efficiency programs not only help communities save money and reduce energy usage, but they spur economic growth throughout the region.

Downing added that these dollars will go directly into the community and will create local jobs in the energy solutions industry and beyond.

The DED Division of Energy has awarded more than 560 loans since the Energy Loan Program’s inception in 1989. Applicants can seek low-interest loans of in between $10,000 to $750,000 that may be repaid through the resultant energy savings, with a maximum repayment term of ten years including principal and interest.

These loans have resulted in nearly $97 million in completed energy-efficiency projects that have generated more than $175 million in estimated cumulative energy savings.

NYC Economic Development Corp’s Life Sciences VC Fund Exceeds Goal by $50M

New York City Economic Development Corporation President Kyle Kimball joined Deputy Mayor for Housing and Economic Development Alicia Glen at Rockefeller University to announce the launch of the Early-Stage Life Sciences Funding Initiative.

NYC Life Sciences Fund

NYC Life Sciences Fund (photo – nycedc.com)

The public-private funding initiative to support early-stage life sciences growth was first announced by the NYC Economic Development Corp in Dec 2013.

At that time, they had a goal of deploying a total of at least $100 million and investing it into the most promising research generated by the city’s academic medical institutions and leading entrepreneurs.

This included $10 million from the NYCEDC, and additional investments from strategic partners Celgene, GE Ventures and Eli Lilly. The City was at that time seeking institutional venture capital partners to make up the $100 million goal.

It seems that the co-investment partnership has exceeded its initial funding goal by $50 million, and will now be launching with a total of $150 million.

The VC funding initiative is expected to make catalytic investments that will help launch new businesses that are collectively expected to create 2,000 direct jobs by 2020. The funding support is also expected to broadly accelerate the growth of New York City’s life sciences ecosystem.

Venture capital firms Flagship Ventures and ARCH Venture Partners will manage separate investment activities for the Early-Stage Life Sciences Funding Initiative. Flagship Ventures will focus on investments in therapeutics, while ARCH Venture Partners will direct its investments activities towards non-therapeutics including diagnostics, medical devices, R&D instrumentation and digital life sciences.

Mayor Bill de Blasio said in a release announcing the launch of the initiative that “These investments are going to spur a new generation of companies in this vital sector, which means good jobs and career pathways for New Yorkers, and a stronger and more diverse economy for the whole city.”

Deputy Mayor Alicia Glen said that the return on the City’s investment here isn’t purely financial, noting that it’s also the thousands of 21st century quality jobs, economic diversification, and increased tax revenue these efforts will bring.

NYC Economic Development Corp President Kyle Kimball said in the release that the Life Sciences Funding Initiative and other infrastructure investments respond directly to the challenges facing the life sciences community – the need for increased capital and affordable real estate.

Mark McDonnell, managing director and CFO for ARCH, said that ARCH Venture Partners is excited to partner with the NYCEDC alongside New York’s industry leading companies and world-class research institutions to help identify life science technology concepts and bring them to fruition.

Marc Tessier-Lavigne, president of The Rockefeller University, likewise said that this announcement by the NYC Economic Development Corporation is a tremendously exciting advancement in the expansion of New York City’s life sciences sector.

The NYC life sciences sector, which currently employs approximately 13,700 people, is part of a large and growing healthcare sector which is the leading employer in New York City supporting approximately 481,400 jobs. The sector grew by 23,400 jobs (5.1 percent) last year.

New Orleans Seeks Public Support For City Accelerator Competition

New Orleans is one of seven cities that have been selected as a finalist in the second round of the City Accelerator initiative.

Video – Governing

City Accelerator was launched by Living Cities and the Citi Foundation as a program to assist cities in adopting innovative plans to help low-income populations and improve the quality of life for residents.

The idea is to promote a lasting culture of innovation in local government. Cities selected to participate in the first cohort include Louisville, Nashville and Philadelphia.

The City Accelerator provides support for an 18-month project to implement an innovation guidebook. City officials implementing the project will get invitations to learn from other cities and access to coaching, technical assistance and other resources needed to develop a strategy and overcome barriers.

As part of their proposals, participating cities are asked to develop pitch videos which are posted on Governing.com, and public feedback (ratings and comments) on the videos is taken into consideration during the selection process.

Proposals for the second cohort are focused on civic engagement, with an emphasis on creating an inclusive process that harnesses the ideas and ingenuity of city residents to solve complex urban problems.

The seven cities that are competing as finalists in this process are New Orleans, Los Angeles, Seattle, Atlanta, Albuquerque, Baltimore and Minneapolis. Up to five of them may be picked to be a part of the second cohort.

New Orleans is proposing to expand the reach of healthcare services by engaging residents. The engagement will help answer questions about why more people do not use the healthcare services under a Medicaid waiver program, and the knowledge gained through the engagement can then be used to overcome the points of resistance.

Nearly 57,000 individuals are currently enrolled in the Greater New Orleans Community Health Connection (GNOCHC), a Medicaid waiver that provides coverage to working-class residents. If selected, the New Orleans Health Department (NOHD) will engage individuals in utilizing preventative care services, thus improving the overall health outcomes for the region.

New Orleans Mayor Mitch Landrieu said in a release that “As a city, we want to use innovative techniques that help ensure all residents are taking part in our community’s revival.”

NOHD Director Charlotte Parent said that with the City Accelerator’s support, they hope to improve health outcomes in New Orleans by helping residents better understand ways to access life-saving health services. This, in turn, said Parent, will help reduce the overall health care costs for everyone in the New Orleans community.

New Orleans’ pitch video already has the second-highest ratings in the lot behind Minneapolis. Mayor Landrieu said they need the public’s help for this and asked people to help support the city’s online pitch video at Governing.com.

If nothing else, New Orleans should get some goodwill for the civic engagement strategy deployed in reaching out to the public to help the city get selected into the cohort.

US EDA Awards $10M Grants Under Regional Innovation Strategies Program

The first 26 grant recipients of the Regional Innovation Strategies (RIS) program were announced by U.S. Secretary of Commerce Penny Pritzker.

US EDA RIS program

US EDA RIS program (photo – eda.gov)

The RIS program, announced last September, is being run by the U.S. Economic Development Administration’s Office of Innovation and Entrepreneurship.

RIS is designed to advance innovation and capacity-building through three different funding opportunities totaling $15 million. This includes $2 million in cluster grants for seed capital funds, i6 Challenge grants totaling $8 million, and another $5 million in science and research park development grants.

The 26 grants that have been announced are i6 Challenge grants and cluster grants for seed capital funds. The science and research park development grants will be announced soon.

One of the Cluster Grant for Seed Capital Funds recipients is the Greater Phoenix Economic Council. GPEC is a Greater Phoenix economic development group representing Maricopa County and 22 communities throughout the region.

A $221,467 RIS grant will assist GPEC in conducting a feasibility study for establishing a seed fund that supports early-stage companies in advanced manufacturing and related industries.

The other Cluster Grant for Seed Capital Funds award recipients include Albany Medical College, Albany, NY; Milwaukee Water Council, Inc., Milwaukee, WI; Clean Energy Trust, Chicago, IL; Quatere, Salt Lake City, UT; Regional Development Corporation, Espanola, NM; Technology 2020, Oak Ridge, TN; University of Central Florida, Orlando, FL; and University of North Dakota, Grand Forks, ND.

The i6 Challenge was launched as part of the Startup America Initiative, and these latest grants represent the fourth round of grant awards. One of the projects awarded an i6 Challenge grant was BioAccel’s Southwest Proof of Concept and Commercialization Center.

The BioAccel proof of concept program, known as the Technology Advancement Program (TAP), has enhanced successful outcomes in terms of the creation of new technology-based businesses and commercialization.

The $499,764 i6 Challenge grant will help BioAccel develop a regional expansion plan in partnership with the biomedical engineering programs at Arizona State University and the University of California at Irvine.

The other i6 Challenge grant award recipients include Albany Medical College, Albany, NY; BioSTL, St. Louis, MO; City and County of San Francisco, CA; Cornell University, Ithaca, NY; Curators of the University of Missouri on behalf of UMKC, Kansas City, MO; Georgia Tech Research Corporation, Atlanta, GA; Louisiana Tech University, Ruston, LA; Maryland Technology Development Corporation, Columbia, MD; Montana Economic Revitalization and Development Institute, Butte, MT; New Orleans BioInnovation Center Inc., New Orleans, LA; Ohio Energy and Advanced Manufacturing Center, Inc., Lima, OH; The Pennsylvania State University, University Park, PA; The University of North Carolina at Chapel Hill, Chapel Hill, NC; University of Alaska Fairbanks, Fairbanks, AK; University of Central Florida, Orlando, FL; and University of South Florida, Tampa, FL.

Secretary Pritzker said in a release announcing these grants that as America’s “Innovation Agency,” the Commerce Department has a key role to play in supporting the innovators and job creators of tomorrow.

“The Regional Innovation Strategies Program competition is designed to advance this mission across the United States, strengthening our economy and global competitiveness,” said Secretary Pritzker.

Columbus Economic Development Gets FDI Boost Through German Automotive Supplier

The Ohio Tax Credit Authority has approved state assistance for 12 economic development projects creating a total of 661 jobs and retaining 3,061 jobs.

Ohio jobs

Ohio jobs (photo – americaspower/flickr)

These projects will generate approximately $185.9 million in investments across Ohio, and are expected to add $31.1 million in new payroll.

One of the biggest projects in the lot is an expansion by German automotive supplier Hirschvogel Automotive Group in Columbus, OH. The company is investing more than $50 million to buy new equipment and machinery, and add 65,000 square feet of additional space at its existing location.

Hirschvogel expects to create 37 new jobs over the next three years, while retaining the 322 existing jobs at the facility in Columbus. This will add $1.3 million in additional annual payroll and retain $14.4 million in existing payroll.

Columbus Mayor Michael B. Coleman thanked Hirschvogel and said in a release that foreign-direct investment is important to the Columbus Region’s economic future, and so are more high-quality manufacturing jobs for residents.

Hirschvogel Automotive Group President and CEO Witold Salandyk said in the release that the level of collaboration between the City of Columbus, Columbus 2020 and JobsOhio was a major factor in their decision to continue to invest in the Columbus Region with this latest expansion.

Columbus economic development group Columbus 2020 is the lead regional organization promoting the 11-county Columbus Region to market-leading companies around the world. Ohio economic development non-profit JobsOhio works together with local and regional partners like Columbus 2020 to submit projects for review to the Ohio TCA Board.

The Ohio TCA has approved a 45 percent, six-year Job Creation Tax Credit to support this expansion by Hirschvogel.

The biggest job creation project approved by the TCA is an expansion by R+L Carriers, Inc. in Liberty Township, OH. The company will create 200 full-time jobs that will generate $9.5 million in additional annual payroll while retaining $70.7 million in existing payroll.

R+L Carriers is a family owned global freight shipping company headquartered in Wilmington, OH. To support the R+L Carriers expansion in Liberty Township, the Ohio TCA has approved a 60 percent, nine-year JCTC for the project.

Another big project that received approval for a 55 percent, seven-year JCTC from the TCA is a plan by Masters Pharmaceutical, Inc. to consolidate operations in the cities of Mason and Fairfield, OH and create 100 new jobs. The consolidation and job creation will result in $5.2 million in additional annual payroll and retention of $10.7 in existing payroll.

The other projects that have been approved to receive Ohio tax incentives are as follows:

Tramec Sloan, L.L.C – Expansion in the Cities of Galion and Bucyrus creating 90 jobs. Project approved for a 50 percent, six-year JCTC.

Valfilm, LLC – Expansion in the City of Findlay creating 80 jobs. Project approved for a 55 percent, eight-year JCTC.

PACS Switchgear, LLC – New project location in the City of Mount Vernon creating 30 jobs. Project approved for a 40 percent, seven-year JCTC.

The C.M. Paula Company – Expansion in the City of Mason creating 29 jobs. Project approved for a 40 percent, six-year JCTC.

The Lubrizol Corporation – Expansion in Painesville Township creating 24 jobs. Project approved for a 45 percent, seven-year JCTC.

Polymer Additives, Inc. – Expansion in the Cities of Independence and Cleveland and the Village of Walton Hills creating 23 jobs. Project approved for a 40 percent, six-year JCTC.

Tiffin Metal Products Co – Expansion in the City of Tiffin creating 18 jobs. Project approved for a 35 percent, five-year JCTC.

Nitto Denko Avecia Inc. – Expansion in the City of Reading creating 15 jobs. Project approved for a 40 percent, five-year JCTC.

Advanced Ground Systems Engineering, LLC – New project (location not finalized) creating 15 jobs. Project approved for a 45 percent, five-year JCTC.

Indianapolis Faces Site Selection Reversals Over RFRA

Last week, Governor Mike Pence signed the Religious Freedom Restoration Act into law in Indiana. As a result, Indianapolis is now facing site selection reversals over secured projects such as the Angie’s List expansion.

Indiana

Indiana (photo – scazon/flickr)

Angie’s List (NASDAQ:ANGI) CEO Bill Oesterle issued a statement announcing that the company has pulled its proposed campus expansion project in Indianapolis from City-County Council consideration as a result of the passage of the Religious Freedom Restoration Act.

“We are putting the ‘Ford Building Project’ on hold until we fully understand the implications of the freedom restoration act on our employees, both current and future,” said Oesterle.

The statement also notes that the company will begin reviewing alternatives for the expansion of its headquarters immediately.

Angie’s List, Inc. had announced last year in October that the company will be making a $40 million investment to expand and improve its campus in Indianapolis by taking up the former Ford plant site.

The project was expected to create 1,000 new jobs and consolidate 800 of the company’s existing employees from different offices into the newly expanded campus.

Another done deal that Indianapolis is in danger of losing over RFRA is the Gen Con gaming convention. Last year, Gen Con drew 56,000 attendees from all 50 states and 40 countries to the Indiana Convention Center. The event has an estimated annual impact of $50 million for Indianapolis.

Gen Con LLC CEO Adrian Swartout has written a letter to Gov. Pence in which he says that “legislation that could allow for refusal of service or discrimination against our attendees will have a direct negative impact on the state’s economy, and will factor into our decision-making on hosting the convention in the state of Indiana in future years.”

A follow-up letter by Swartout to the Gen Con community clarified that they have a contract with Indianapolis through to 2020, and they’re going to support the local business community. The letter notes that discussions about whether to remain in Indy or move elsewhere for 2021 and beyond have begun since planning and bidding for the convention is a long-term process that begins five years prior to contract-term announcement.

Another blow came from Salesforce.com CEO Marc Benioff, who announced on Twitter that they are canceling all programs that require their customers and employees to travel to Indiana.

Michael Huber, president and CEO of the Indy Chamber, which has merged with Indianapolis economic development organizations Develop Indy and Indy Partnership, issued a statement in which he says that they warned this would happen.

“In our February testimony in front of the Senate Judiciary Committee, we warned of the impending negative economic impact this legislation would have on our ability to attract and retain jobs, talent, and investment, noting the bill will encourage current and potential residents, and visitors to take their business elsewhere. Within moments of this legislation being signed, this warning became a stark reality,” said Huber.

US Economic Development Administration Kicks Off Multi-Agency POWER Initiative

U.S. Assistant Secretary of Commerce for Economic Development Jay Williams and other federal officials joined Kentucky Governor Steve Beshear in Lexington, KY last week to announce the POWER initiative to assist coal communities.

Appalachia coal cars

Appalachia coal cars (photo – Decumanus/wikipedia)

POWER is an acronym for Partnerships for Opportunity and Workforce and Economic Revitalization. It is part of the POWER+ Plan outlined in the President’s FY 2016 Budget to invest in coal communities, workers and technology.

The Goal of POWER is to align and leverage federal workforce and economic development programs and resources to assist communities negatively impacted by changes in the coal industry and power sector.

To this end, federal grants totaling $28-$38 million will be awarded this year alone through the U.S. Economic Development Administration, Department of Labor, Small Business Administration, and the Appalachian Regional Commission.

These grants will serve as catalytic funding for targeted projects to leverage additional funding from the private sector and other federal agencies such as the U.S. Department of Agriculture.

The POWER grants will be awarded through a two-track process keeping in mind that many of these communities will need some form of pre-planning technical assistance in order to be able to apply for either planning or implementation grants.

Track One planning grants from the EDA or DOL will be awarded to communities impacted by coal mining and coal power plant employment loss who haven’t recently developed comprehensive economic development strategic plans.

The Track Two implementation grants will be made by EDA, DOL, SBA and ARC to communities impacted by coal mining and coal power plant employment loss who have already done robust strategic planning.

These implementation grants will be used by communities to develop high-potential industry clusters, accelerate job creation by leveraging local assets, train and place workers in high-demand jobs, and to create linkages that drive regional economic growth.

The Economic Development Administration will chip in with up to $15 million across both tracks, supported by $10-20 million from DOL, and up to $3 million from SBA. The ARC will provide up to $500,000 for technical assistance and demonstration projects from its region.

Going forward, the Budget proposes more than $55 million for implementation of targeted workforce and economic development strategies through POWER for fiscal years 2015 and 2016.

Assistant Secretary Williams said in a release announcing the initiative that EDA is proud to be leading the POWER initiative and they look forward to working with their federal partners to help communities diversify their economies and help workers get the skills they need to adapt to and thrive in this changing economy.

Apart from POWER, the U.S. Economic Development Administration is also collaborating with the National Association of Development Organizations and the National Association of Counties to support economic diversification efforts by coal-reliant communities through an Innovation Challenge.

The NADO Research Foundation and NACo, supported by the EDA, are hosting three intensive, hands-on workshops designed to assist coal-reliant communities diversify their economies. Counties and regions can form teams and apply to enter the program, and winning teams will get to attend one of the workshops.

Des Moines, Iowa Economic Development Incentives Attract Pillar Technology Regional Office

At its latest meeting, the Iowa Economic Development Authority board approved state incentives for four projects that will create a combined total of 229 jobs and generate nearly $75 million in investments.

Pillar

Pillar (photo – pillartechnology.com)

One of the four projects is a proposed plan by hi-tech software consultancy firm Pillar Technology Group, LLC to open a regional office in Des Moines, IA.

The firm, which serves a broad range of clients from startups to Fortune 500 companies, already has 150 employees across facilities in Palo Alto, CA; Ann Arbor, MI; and Columbus, OH.

They are now considering opening a new facility in downtown Des Moines that would employ up to 49 technology staff over the next three years. These would be high-wage positions paying an estimated average of $81,000 per year.

Pillar Technology will make a $450,000 capital investment to lease and establish a 7,600-square-feet facility. The company is also considering establishing a venture capital fund as part of its effort to be a leader in the region and Iowa’s high-tech industry.

To support this project, the IEDA board has approved $200,000 in direct financial assistance through the High Quality Jobs program (HQJP) for the creation of 40 qualifying jobs at an hourly wage of $25.52.

The program requires a local match, so Pillar Technology LLC is additionally getting Des Moines economic development incentives in the form of a $40,000 loan. Earlier this month, the City Council passed a resolution preliminarily approving the loan and sponsorship of the company’s application for financial assistance to the Iowa Economic Development Authority.

Apart from the Pillar Technology project, the IEDA also approved state incentives for Hy-Vee, Advanced Analytical Technologies, Inc., and the Union Tank Car Company.

West Des Moines, IA-based Hy-Vee, an employee-owned chain of 235 supermarkets, is planning an expansion of its conference center and office space in West Des Moines. The company was approved to receive HQJP tax benefits for making a $70 million capital investment and creation of an expected 102 jobs.

The Union Tank Car Company, a Marmon – Berkshire Hathaway Company, is planning an expansion of its facility in Muscatine, IA. This project received approval for state incentives to support the $1.9 million investment that is expected to create 10 jobs and retain 20 jobs.

Advanced Analytical Technologies, Inc., which develops, manufactures and markets genetic analysis systems, has outgrown its facility in Ames, IA and is planning to lease more space at the LGI Business Park in Ankeny, IA. AATI plans to make a $2 million capital investment and expects to create 57 jobs. The IEDA has approved $500,000 in direct financial assistance for this project, along with additional HQJP tax incentives.

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