ProbioFerm ready for second expansion in three years
BUSINESS RECORD STAFF Jul 16, 2018 | 3:02 pm
1 min read time
191 wordsAll Latest News, Health and Wellness, Innovation and EntrepreneurshipUrbandale-based ProbioFerm LLC, a contract manufacturer of probiotics, is seeking an estimated $250,000 in development incentives to build a 9,000-square-foot, manufacturing and warehouse facility at 10301 Justin Drive.
The project would add three jobs to the firm’s current payroll of 18 people and generate an estimated $6 million in spending on property, equipment and research and development, according to a report to the Urbandale City Council, which will vote on whether to endorse the project when it meets this evening.
ProbioFerm is seeking $190,340 in state tax credits and refunds under the High Quality Jobs Program and could qualify for an estimated $62,442 in the form of an industrial property tax exemption or tax increment finance rebate from the city.
In 2015, ProbioFerm was awarded state and city incentives for a $1.9 million, 22,000-square-foot expansion of its manufacturing and warehousing operations. The company had requested $89,560 in tax credits and sales tax refunds under the High Quality Jobs Program and a $53,000 property tax exemption.
ProbioFerm is a nine-year-old company that specializes in making live bacteria that are produced for their digestive health benefits. Read more about ProbioFerm at BusinessRecord.com.