Oskaloosa fire hydrant maker among companies to receive IEDA awards
Michael Crumb Feb 20, 2023 | 10:22 am
1 min read time307 wordsAll Latest News, Economic Development, Manufacturing & Logistics
The Iowa Economic Development Authority approved awards Friday to three companies that will help create more than 360 jobs with more than $75 million in capital investment.
Here are summaries of the awards:
- $1.15 million to the Clow Valve Co. in Oskaloosa to modernize its facility with new equipment and automation. The project will help the company retain 294 jobs that pay a qualifying wage of $24.55 per hour. The company will also receive a $1.15 million 10-year sliding scale tax abatement from the city of Oskaloosa. The company manufactures valves and fire hydrants for water distribution systems. The project, which represents a capital investment of more than $68 million, is scheduled to be complete by December 2024.
- $310,000 to Mobile Track Solutions LLC in Elkader to improve its facility, allowing the company to produce more equipment and further invest in research and development. The project will result in the creation of 30 jobs that pay a qualifying wage of $18.44 per hour. The company makes tractors, scrapers and towed implements for the construction industry. The project, which represents a capital investment of $11.45 million, is scheduled to be completed in the first quarter of 2025. Mobile Track Solutions will also receive $50,000 in tax increment finance benefits from the city of Elkader.
- $318,000 to Puck Customer Enterprises to invest in new equipment for its facility in Manning. The project is expected to create 40 jobs that pay a qualifying wage of $19.75 per hour. The company designs, develops and makes equipment to pump liquid through lay-flat hose. The project represents a capital investment of $6 million. The project will also receive $60,000 from Audubon County to help pay for roads and infrastructure. The money will come from the Iowa Department of Transportation’s RISE fund. The project is expected to be completed by December 2025.
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Michael Crumb is a senior staff writer at Business Record. He covers economic development, transportation, energy & environment, culture, sales & marketing.
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