Fluid Quip Technologies receives state funding for expansion, expects to create 32 jobs

Cedar Rapids-based Fluid Quip Technologies received $177,923 in state loans and tax credits this past week for an expansion project that is expected to create 32 jobs.

Its $1.8 million expansion project will move the company into new office space in Cedar Rapids’ Fountains mixed-use development space on the corner of Edgewood Road NE and Blairs Ferry Road NE.

Fluid Quip, which employs 46 people, is expected to create another 32 jobs as part of the project.

The company, owned by Omaha, Neb.-based Green Plains, produces technology for the biochemical and biofuel industries.

State tax credits through Iowa Economic Development Authority’s High Quality Jobs Program make up $77,923 of the funding. The other $100,000 is split between a forgivable loan and a five-year no-interest loan.

The city of Cedar Rapids matched the state funding with $20,000 from the Fountains’ tax increment financing account, according to an IEDA document.

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