State tax credits awarded to businesses in Pella and AnkenyDecember 27, 2018
The Iowa Economic Development Authority (IEDA) Board Friday awarded tax benefits to three companies for job creation and expansion projects. Spokesperson Jacque Matsen says a company formed in the Netherlands in 1948 plans to expand its operations in Pella.
“Lely is a really interesting company, they develop robotics and data analytics for the dairy industry,” according the Matsen. The board awarded them $15.7 million in capital investment tax benefits from the High Quality Jobs (HQJ) program. “They have a small operation in Pella already, but what they are looking to do is build a brand new 150,000 square foot building in Pella that will serve as their North American headquarters,” she says. The company will move products currently manufactured in Europe to production in Pella and that is expected to create 15 jobs, at a wage of nearly 22 dollars an hour.
The Kreg Company received tax credits for another expansion. “Kreg is a longtime Iowa company formed almost 30 years ago…in Huxley..they are looking to expand with a 250,000 square foot facility in Ankeny,” Matsen says. The company is know for its woodworking tools and specifically for its Kreg Jig.
She says they are looking to create 20 jobs that would pay more than 30 dollars an hour. A Burnsville, Minnesota tool manufacturer also won tax incentives.