Background and update: The Ankeny City Council this week approved a development agreement with Pet Parents LLC, that would provide the pet products company up to $425,000 in tax increment financing over five years for its new facility planned in an area southeast of the John Deere Des Moines works campus.

Pet Parents, which currently leases space in an industrial area south of Ankeny, plans on building a 31,000-square-foot office, distribution and warehouse facility on land it recently purchased in the Prairie Trail planned development.

The company, founded in 2016 by Blake Anderson, creates products for dogs and cats including diapers, blankets and chew toys, all of which can be found in pet stores nationwide and online at Chewy.com and Amazon.com.

The development agreement calls for Pet Parents to create at least 28 new positions over a three-year period at the new facility. The company currently has about 35 workers.

Construction of the facility is expected to begin in April with completion later this year or in early 2022.

When complete, the project is expected to in increase the taxable valuation of the property by $4.5 million, according to background material provided to council members. During the five years the development agreement is in place, the property is expected to generate $367,000 in new tax revenue. After the agreement expires, $157,000 in new tax revenue is expected to be generated annually.

Last year, Pet Parents was named to Inc. magazine’s annual  top 5,000 fastest-growing U.S. companies list. The publication described Pet Parents as Iowa’s fastest growing company.

Related article: Ankeny company that creates pet products expanding, planning new facility

A Commercial Real Estate Weekly feature in which the status of projects underway in the Greater Des Moines area are updated. Want to include an update about your project or suggest a project to include? Email: kathybolten@bpcdm.com.