h digitalfootprint web 728x90

City of Des Moines receives $1 million for Wellmark project

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

The Iowa Economic Development Board this morning awarded $1 million to the city of Des Moines for an incentive package for Wellmark Inc. to build a new headquarters in downtown Des Moines.

The award, made through the state’s Physical Infrastructure Assistance Program, will be used by the city for cleanup of the brownfield site, which had been occupied by a dry cleaning business. Wellmark expects to create 63 new jobs with its construction of a $195 million headquarters building, with an average starting wage of more than $40 per hour.

The board also awarded $1.7 million in PIAP funds plus tax incentives to Hendricks Industries Inc., which plans to build a wind turbine tower plant and a port facility in Keokuk. The awards are for the creation of 350 jobs at the $35 million plant.

Among 12 other companies that received funding was Emerson Electric Co. in Marshalltown, which plans to invest nearly $14 million to convert an existing data facility serving Fisher Controls into a global backup and recovery center. The board approved $55,000 for that project, which will create five jobs and retain six others.

Rockwell Collins Inc., Google Inc. and Monsanto Co. were among major employers that received tax incentives from the state for expansion projects. State officials estimate the 14 projects receiving funds will create 1,300 new jobs and invest nearly $1 billion in Iowa’s economy.