General Mills receives additional tax credit for $57 million Cedar Rapids expansion

The Iowa Economic Development Authority approved an additional $300,000 in tax credits Friday for General Mills' $57 million expansion in Cedar Rapids.

The project, which will add a new manufacturing line and 60 jobs, initially was supposed to cost $37 million and received $765,000 in state tax credits in August.

The Minneapolis-based food manufacturer then increased the budget for machinery and equipment, from $30 million to $50 million.

The expansion comes with additional 10 jobs with average wages between $23.49 and $29.62 per hour.

The initial proposal included 50 new jobs.

'We believe that the adjustment to the tax credit amount is commensurate with the increased economic impact that this project will bring to the state and community, and for the employment opportunities that it will generate for Iowa's workforce,” said Becky Crane, General Mills' vice president of North American supply chain strategy, in a letter to the IEDA board.

General Mills had 615 Cedar Rapids employees before the expansion, according to IEDA documents. It has until 2023 to hire the 60 new workers.

General Mills makes cereals such as Lucky Charms and Cheerios, Betty Crocker frosting and various fruit snacks at its Cedar Rapids facility.

Comments: (319) 398-8394; john.steppe@thegazette.com