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Cedar Rapids, Iowa 52401
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An Independence manufacturer will expand in the city with plans to add at least six jobs.
On Friday, the Iowa Economic Development Authority approved providing Geater Machining and Manufacturing Co. with $125,000 in tax credits and refunds to put toward its $7.8 million expansion project.
Geater manufactures parts and fabricates sheet metal for the aerospace and defense industry. The company has 257 employees, according to state documents.
In addition to the state incentives, the city of Independence is expected to provide $88,000 in the form of a 10-year tax increment financing rebate.
Company officials were not immediately available to comment on the project.
Iowa-based grocery chain Hy-Vee also received incentives from the state Friday to expand in central Iowa.
Hy-Vee plans to invest more than $64 million in a new warehouse in Ankeny. The company will use the 202,000-square-foot space to make ready-to-eat foods and assembly food kits, as well as baked goods. Food kits have become popular as companies such as Blue Apron sell subscriptions to deliver the kits to customers' doorsteps.
E-commerce giant Amazon also has announced plans to sell meal kits.
The state approved providing Hy-Vee with more than $2.1 million in tax credits and refunds for the project. Hy-Vee has to add 209 jobs.
A Hy-Vee subsidiary, Perishable Distributors of Iowa, also received $529,950 in tax refunds to expand its warehouse in Ankeny. PDI will have to add one job for the $21.6 million project.
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