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Supervisors approve Red Power economic deal

This news story was published on April 10, 2012.
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by Matt Marquardt –

MASON CITY – Cerro Gordo County Supervisors finalized their economic development agreement with Red Power at Tuesday morning’s meeting. The deal is the first Tax Increment Financing project undertaken by the county.

Red Power is building a new implement dealership and service building west of their current location at Highway 122 west of Mason City. “The construction represents a roughly $1.7 million investment by Red Power,” according to county official Tom Drzycimski. “They have requested incentives in the form of property tax rebates from the county. In exchange, Red Power will maintain its current number of employees and add six more by the end of the third year of tax rebates.”

A Red Power spokesman was at the meeting. He said that construction on the new building is going as planned and they hope to have it done by August 1st. He said their biggest concern in finding qualified technicians.

In other business, an agreement with Mills County was approved for the use of the Precint Atlas software, which aids in Iowa elections.  Learn more about the Precint Atlas software here.  Nearly 50 Iowa Counties are now using the software.

Read meeting agenda here.

Watch video of entire meeting:

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