Terex USA expansion to add 45 positions in Waverly

State incentives were approved Thursday for a project that would add 45 jobs at Terex USA in Waverly over a three-year period.

The Iowa Department of Economic Development Board awarded $500,000 in direct financial assistance to Terex for the project. The company now employs 13 in Waverly at its Global Business Services division.

The state incentives would support 29 of the 45 new jobs in the company's shared services operations.

Another seven jobs would be retained as a result of the incentives. Terex is a global manufacturer of construction and materials processing equipment.

Other projects receiving incentives Thursday included:

Revstone Industries, which received an Enterprise Zone designation for its Revstone Casting Fairfield facility to make a $1.5 million capital investment for renovations and upgrading. The automotive parts manufacturer is expected to create 52 jobs. Revstone acquired Dexter Foundry's Fairfield operation in November, taking over employment of 183.

Bachman Tool, which received tax incentives under the High Quality Jobs Program for a proposed expansion at Bachman Tool and Die Co. in Independence. The $750,000 proposal includes the purchase of new machinery and equipment, plus research and development expenditures needed to meet customer demand, develop new products and remain competitive. Bachman performs precision machine of fabricated parts, operating in three Independence locations

E.I. DuPont de Nemours, which received $150,000 in direct financial assistance and tax incentives under the High Quality Jobs Program for a proposed expansion of its Fort Madison manufacturing operation that produce polymers for automotive paints. The company is proposing a $3.3 million three-phase plant upgrades that would allow it to make polyurethane resins, add a mill to its Tedlar business, and add an ink research and development pilot facility for pigment encapsulation. The project is expected to add eight jobs.

Valley of the Moon Commercial Poults, which received Enterprise Zone tax incentives for construction of an 87,000-square-foot, $16.7 million commercial turkey egg hatchery in Osceola. It would create 33 jobs.

Weiler Inc., which received $50,000 in direct financial assistance and Enterprise Zone tax incentives for a 97,000-square-foot building expansion and the purchase of machinery to increase production in Knoxville. The road building equipment manufacturer plans a $4.7 million investment that would result in 16 jobs.