The Iowa Economic Development Authority (IEDA) board on Friday awarded direct financial assistance and tax benefits to eight companies for job creation and expansion projects. The awards will assist in the creation of 717 jobs, retention of nine jobs and will result in over $237 million in new capital investment for the state.
“This was quite a busy month for IEDA with eight companies planning projects in Iowa,” said Debi Durham, director of the Iowa Economic Development Authority. “From expansions to companies new to Iowa, it is evident that our efforts to bring investment and jobs to the state are succeeding.”
Projects were assisted in Dubuque, Burlington, Ankeny, Sioux City, Ottumwa, Burlington and McKesson Corporation in Clear Lake.
McKesson Corporation, a Fortune 100 company in the healthcare sector, was approved for incentives to build a regional forward distribution center to serve its operation in numerous Midwestern states. The project is expected to create 164 jobs at a qualifying wage of $14.79 per hour and result in a capital investment of $65.2 million. The board approved a $170,000 forgivable loan and tax benefits through the High Quality Jobs program.
1.3 billion in net income
Wow they are known for spreading the wealth, I can tell already..
Perhaps the new employees can work nights,weekends and holidays
For that generous sum.. Or it would just be like stealing!!!
What they have gotten out of this deal is the salary for about five people for a month. This deal has a decent payback and they have invested heavily with their own money.
I have no problem with this deal, the money will come back to the State and local economy in no time.