Urbandale approves development agreement for Deere IT project
The Urbandale City Council on Tuesday approved a development agreement for the company to construct a new two-story office building as the principal location for John Deere Intelligent Solutions Group. The 134,000-square-foot building, which the company will own, will house more than 600 workers when it’s completed in 2019. Deere has leased space for the operations in Urbandale for nearly 20 years. The development agreement will provide a tax increment finance property tax rebate estimated at $4.1 million, or approximately 77 percent of total property taxes paid over 10 years. In November, the Iowa Economic Development Authority board approved a High Quality Jobs Program award for the project. The city’s financial support leverages a total investment of more than $32 million by Deere and continues development momentum in the Urban Loop, Urbandale officials said in a release.