IMT plans to add jobs, new office building in W.D.M.
BUSINESS RECORD STAFF Oct 31, 2016 | 3:48 pm
1 min read time
195 wordsAll Latest News, Real Estate and DevelopmentWest Des Moines-based IMT Group plans to add 33 jobs as part of a $27.7 million office development in the city.
The West Des Moines City Council will vote today on whether to support IMT Group’s application for state High Quality Jobs program tax incentives, according to a staff report to the Council. The incentives would be in the form of an investment tax credit and a rebate of sales taxes paid on construction materials.
West Des Moines would provide nearly $1.5 million in tax rebates that would be paid out of an increase in property taxes resulting from the project, according to the report. The city’s contribution is required under the state program.
The West Des Moines-based property/casualty insurer’s current headquarters is on Corporate Drive.
According to the staff report, IMT Group is planning an 85,000-square-foot office building east of 81st Street and north of Mills Civic Parkway. The incentives would be used to widen Mills Civic Drive near the office building and to create Coachlight Drive, according to the report to the City Council. IMT Group has agreed to a minimum property tax assessment that would generate funds to pay for the street improvements.