TPI plans move to Airport Commerce Park South
BPC Staff Apr 9, 2018 | 8:42 pm
1 min read time316 wordsAll Latest News, Economic Development, Manufacturing & Logistics
The Printer Inc., a 45-year-old Des Moines company that in recent years has focused on direct-mail products for the gambling industry, plans a $12.8 million expansion that includes a new 75,000-square-foot facility at 2550 Gannett Ave. and the addition of 15 jobs to its present workforce of 157, according to a report to the City Council from the city’s economic development department. Known as TPI, the company will move operations from Thomas Beck Road, where it has been located since 1989. The new jobs would pay an average of $24.06 per hour, with 10 jobs qualifying for the state’s High Quality Jobs Program and paying $29.12 an hour, according to the report. TPI is seeking $387,000 in state investment tax credits and $285,000 in sales tax refunds. The Iowa Economic Development Authority is expected to consider TPI’s request on April 20. The City Council will vote when it meets today on a resolution supporting TPI’s request for state incentives. Under the state program, the city also is required to provide local matching funds. That support will come in the form of a tax abatement with an estimated value of nearly $1.16 million, according to the report to the City Council. Besides direct mail, TPI also creates digital apps and email programs. In addition to the gambling industry, the company serves medical device and equipment providers, veterinary operations and the hospitality industry, according to the TPI website. Meanwhile, the City Council also will vote on a resolution of support for Meredith Corp.’s $20.6 million rehab of its downtown headquarters. IEDA approved a blend of $460,000 in tax credits and sales tax refunds for the project, which is expected to add 41 jobs to Meredith’s local workforce. The city of Des Moines is not required to provide a local match for the project. Meredith also will receive $385,176 in job training funds from Des Moines Area Community College.