Van Meter gets incentives for Cedar Rapids expansion

A state board has approved providing Van Meter Inc. with a tax refund to put toward a planned expansion of its warehouse and distribution center in Cedar Rapids.

The Iowa Economic Development Authority Board voted to award the electrical products supplier with a $126,000 sales, service and use tax refund during a meeting Friday.

Van Meter, based in Cedar Rapids, wants to spend about $4.7 million, including $500,000 on equipment, to build a 42,000-square-foot expansion at 850 32nd Ave. SW. The company would need to create 21 jobs, three of which must pay at least $24.91 an hour, to receive the state incentives.

The city of Cedar Rapids already has approved providing Van Meter with a 10-year tax exemption valued at $355,707.

The Authority Board also okayed giving Donaldson Co. $154,082 in tax credits and refunds for an expansion at its engine air filter plant in Cresco. The company plans to spend $4.7 million to install two new production lines at the plant. Minneapolis-based Donaldson Co. would have to create six jobs that pay at least $19.93 an hour.

Other Eastern Iowa awards from Friday include:

l $240,900 in tax refunds to Coco-Cola distributor Atlantic Bottling Co., which intends to move operations it currently has in Rock Island, Ill., to Walcott. Atlantic Bottling Co. will have to create 143 jobs, 106 of which will need to pay at least $18,30 an hour.

l $192,252 in loans, tax credits and tax refunds to the Scott's Miracle-Gro Co. to expand and upgrade its Fort Madison production plant. That plant makes the company's liquid products, such as Roundup and Miracle-Gro. The company would need to create 41 jobs, 18 of which would need to pay at least $16.92 an hour.

l A $25,000 loan to start-up TLA MD LLC of North Liberty, which has developed a device to help more effectively close scalp lacerations.

l Comments: (319) 398-8366; matthew.patane@thegazette.com