IEDA Approves Two Clinton, IA Projects During February 2020 Board Meeting
IEDA Board Approves Projects from Two Established Companies
February 21, 2020 (DES MOINES, IA) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for two legacy companies in Clinton, which will assist in the creation of 157 jobs and result in nearly $142 million in new capital investment for the state. The board also approved awards for entrepreneurial assistance and strategic infrastructure.
Manufacturer expands production in Clinton
Nestlè Purina PetCare (NCCP) is a wholly owned subsidiary of Nestlè SA. The company, founded in 1894, produces dog and cat food, treats and litter. Clinton has operated a Purina pet food factory since 1969. Nestlè plans to increase its existing footprint in Clinton with the expansion of its finished product warehouse. This expansion will allow for increased production and installation of new manufacturing equipment. The board awarded the project tax benefits through the High Quality Jobs program (HQJ). The project is expected to generate $140 million in new capital investment for the state and create 73 jobs, all of which are incented at a qualifying wage of $16.63 per hour.
Timken Drives, LLC to relocate to Clinton
Timken Drives, LLC, a subsidiary of the Timken Company, is a leading manufacturer of power transmission roller chains, large pitch leaf chains and engineered class chains for the industrial marketplace. In addition, Timken Drives manufactures agricultural conveyor chains and auger assemblies for the off-highway mobile industrial market. To accommodate additional chain manufacturing at its Fulton, IL, location, the company plans to relocate its auger manufacturing operations to Clinton and make significant improvements to an existing facility. The board awarded the company direct financial assistance via HQJ. The project, expected to generate $1.4 million in new capital investment, will create up to 84 jobs, 66 of which are incented at a qualifying hourly wage of $16.63.