Ankeny approves incentives for LGI expansion
Wednesday, September 07, 2011 10:46 AM
The Ankeny City Council yesterday approved an incentive package for Lauridsen Group Inc. (LGI) in support of a planned $8.7 million research and development expansion project. The company, which develops protein-based food and non-food products, plans to build a 21,000-square-foot research and development building in its existing business park that will create 16 additional jobs. The city will provide a combination of tax abatement and rebates for seven years through its Local Business Investment Policy adopted in September 2010. LGI is the fifth Ankeny company to receive property tax incentives since the policy was adopted last fall; those expansions represent more than $28 million in new investment and more than 70 new jobs, the city said.