U.S. Department of Agriculture (USDA) Rural Development State Director in Iowa Theresa Greenfield today announced that the Agency is awarding a $3,947,631 grant to the Hydrite Chemical Company for an expansion project through funding from the Fertilizer Production and Expansion Program (FPEP). This project is designed to lower fertilizer costs for American farmers and lower food costs for U.S. consumers.
“Expanding American-made fertilizer will create jobs and save Iowa ag producers money,” said Director Greenfield. “The Biden Harris Administration and USDA are committed to investing in a competitive, resilient, secure and sustainable economy that supports local business and rural communities.”
Hydrite Chemical Co. received a $3,947,631 grant to help expand existing facilities located in Waterloo, Iowa, and in Terre Haute, Indiana. The company, a family-owned manufacturer and distributor based in Brookfield, Wisconsin, provides producers with specialty and commodity chemicals used across agriculture production applications. The expansion in equipment is expected to yield 10 million pounds of potassium thiosulfate and two million pounds of low salt fertilizer by 2027.
According to their website, Hydrite has been in business for 95 years. “We are family run, privately held” business, they say. “With our staff and financial resources, our goal is to have a record year every year.” According to rocketreach.com, their revenue most recently reported is $740.6 million.
With the help of millions in taxpayers dollars, Hydrite just might make those tasty profits in the future.
Hydrite is located at 2815 Wcf and N Drive in Waterloo but their headquarters are in Wisconsin.
Back in 2022, the City of Waterloo announced that Hydrite was awarded tax benefits to help expand its Waterloo facility which manufacturers and distributes chemical products in the U.S. The IEDA board announced the tax benefits on February 18, 2022, but how much wasn’t specified in the $21,300,000 “capital investment” project that promised 20 new jobs.
According to 2024 census statistics, 16.4% of persons in Waterloo are in poverty.