Originally published on WCFCourier.com by Doug Hines.
June 20, 2015
DES MOINES (AP) — A state board has approved $25 million in extra tax breaks for a company building a giant fertilizer plant in southeast Iowa.
The Iowa Economic Development Authority Board on Friday approved the tax breaks for the Lee County plant after the Iowa Fertilizer Company pledged to add 11 more jobs. The project’s cost now totals $1.9 billion, and it will employ 180 people.
According to board documents, approval of the request brings the total amount of tax benefits the state has provided to the company to $107.5 million.
Did you know that Iowa Fertilizer will be the first world-scale fertilizer plant built in the U.S. in nearly 25 years? The infographic below outlines the numerous ways in which the plant has and will continue to positively impact SE Iowa and Iowa as a whole.