IEDA approves awards for Emerson, Jacobson
Friday, September 20, 2013 4:15 PM
The Iowa Economic Development Authority today announced direct financial assistance to five companies. They include:
Emerson receives tax credits for potential manufacturing center
A global manufacturing company in Marshalltown is beginning research and development activities for a manufacturing center that would use additive manufacturing, also known as 3-D printing technology, rather than traditional machining techniques to make components. Emerson Electric Co. & Fisher Controls International LLC today received approval for a research activities tax credit of $88,770 from the Iowa Economic Development Authority board for the feasibility project, in which the company is investing $5.9 million. If an initial R&D phase is successful within the next three years, Emerson would begin a second phase that would result in approximately 40 new jobs and "a significant capital investment," the company said in documentation provided to state officials.
Jacobson Companies receives money for possible relocation to Clive
Jacobson Companies, a third-party logistics company, was awarded a $250,000 forgivable loan for a new headquarters in Clive. The company is considering moving from its current headquarters at 3811 Dixon St. in Des Moines. Jacobson is considering locations on the west side of the metro and the Chicago area. The $2.3 million project was approved for funding to retain 220 jobs and create 10 additional jobs, IEDA said.