IEDA Board approves projects from two established companies in Iowa, awards strategic infrastructure grant
17 Dec 2021
December 17, 2021 (DES MOINES) – Today, the Iowa Economic Development Authority (IEDA) Board approved awards for two companies, which will assist in the creation of 454 jobs and result in $611.3 million in new capital investment for the state. These projects are located in Council Bluffs and Tama. The board also approved a Strategic Infrastructure Program grant for Iowa State University.
US Property, Inc. constructs new division in Council Bluffs
US Property, Inc., a real estate development company based in Lincoln, NE that develops and manages both industrial and mixed-use commercial properties across North America, created a cold storage division that will support the local and regional protein manufacturers. The company will construct a 160,000 square foot facility to include racking, freezing and transportation components to serve the modern cold storage distribution industry. The project represents a $49.3 million capital investment and is expected to create 58 jobs, of which eight are incented at a qualifying wage of $23.56 per hour. The board awarded the company tax benefits through the Targeted Jobs Withholding program.