Cedar Rapids expansions get state help

CEDAR RAPIDS - The Iowa Economic Development Authority Board on Friday approved financial assistance for two Cedar Rapids business expansion projects.

ConAgra Foods, formerly Ralston Foods, 601 16th St. NE, was awarded tax benefits through the state's high quality jobs program for a $10 million capital investment. The company is planning a packaging system upgrade that includes the purchase and installation of new vertical pouching machines and top-load cartoning.

The project is expected to retain 130 jobs, 33 of which qualify for incentives at a qualifying wage of $23.45 an hour.

ConAgra Foods manufactures, distributes and markets private label food products. Its products include ready-to-eat and hot cereals and nutritional cereal bars.

The Cedar Rapids plant produces private label oatmeal products.

The IEDA board approved United Fire Group (UFG) for tax benefits through the state's high quality jobs program.

UFG, with its headquarters in downtown Cedar Rapids, is planning to renovate the 10-story American Building at 101 Second St. SE and construct a new 10-story adjoining building. The company purchased the American Building in January 2014 with an eye toward expansion.

The company's $28.4 million capital investment will accommodate UFG's employee growth over the past two years as well as an additional 50 jobs, of which 46 qualify for incentives at an hourly wage of $23.45.

UFG, founded in 1946, has grown into a super-regional insurance company that sells commercial and personal insurance and bonds through more than 1,200 independent agencies and life insurance through more than 900 independent life agencies.

UFG is a publicly traded company that employs 625 in Cedar Rapids and 1,025 full and part time nationwide,

UFG expects construction of the building and remodeling of the American Building to begin in November. Completion of the tower and remodeling of the American Building is targeted for September 2017.