Iowa’s $6M in aid to Cargill ensures 14 jobs

    Cargill Inc.'s plant at Eddyville, Iowa. (Photo courtesy of Cargill)

    The Iowa Economic Development Authority on Friday approved $6 million in tax breaks and refunds for Cargill Inc., whose new chemical production line will employ 14.

    The Monroe County Board of Supervisors added $5.5 million in tax abatement. IEDA determined Monroe County is “distressed” economically.

    The $230 million project will include wages of at least $17.46 per hour for the 14 jobs, the state reported.

    The new production at the $1 billion corn-milling plant will be a bio-based chemical to be used in packaging, resins, fibers, paints and coatings, the company reported. It already makes corn sweeteners and food additives at the 2,000-acre campus.

    Cargill plans new production facilities with added bioprocessing and fermentation equipment, and an improved wastewater-treatment facility.

    The economic development board also approved $25,000 proof of commercial relevance loans to these startups:

    • Curiosity Labs, a data acquisition company in Ames, that develops computer platforms to use a camera to detect crop parasites.
    • Providence Data Technologies, operating as Distynct, which uses artificial intelligence and smart camera technology to help producers monitor hogs.
    • Dhakai of Cedar Falls, a business-to-business online sourcing marketplace for apparel companies.
    • DeWitt-based mobile and web platform FarmHand App, which helps farmers and ranchers find people to hire.
    Perry Beeman
    Senior reporter Perry Beeman has nearly 40 years of experience in Iowa journalism and has won national awards for environmental and business writing. He has written for The Des Moines Register and the Business Record, where he also served as managing editor. He also is former editorial director of Grinnell College. He co-authored the recently published book, "The $80 Billion Gamble," which details the lottery-rigging case of Eddie Tipton.