116 3rd St SE
Cedar Rapids, Iowa 52401
Freund-Vector compliance report approved
Iowa Economic Development Authority board gives nod on Friday
The Iowa Economic Development Authority board also approved a compliance report for Freund-Vector Corp. in Marion.
The IEDA in January 2018 okayed providing the company with $121,920 in tax refunds and $54,390 in research activities tax credits for a new research-and-development center.
But in June of that year the company said he would opt for a smaller expansion. remodel its existing lab space and add 2,000 square feet at its current location on 44th Street.
In exchange for the smaller project, the IEDA then approved a smaller tax refund — at $24,000. The company was to receive the same amount of research activities tax credits.
Freund-Vector designs and makes equipment that processes powders, pellets, beads and tablets for various industries.
Workers construct part of a tablet coater at Freund-Vector Corp. in Marion in 2019. (The Gazette)
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