After public officials witnessed possible underage labor and safety hazards last week at the construction site of Cedar Rapids’ $49 million Banjo Block development, state officials are assessing whether the findings jeopardize millions in tax incentives awarded to the project.
City Council awards $1.4 million tax rebate for 3-story building
Collins Aerospace was awarded $1.85 million in state financial incentives toward its proposed $22 million expansion of its northeast Cedar Rapids campus to begin the production of microchips.
The City Council awarded $1.05 million in financial incentives for the company to open a $22 million facility on its Cedar Rapids campus to make microchips.
Cedar Rapids is working to amend its agreement with the developer undertaking Westdale Mall’s transformation to allow the developer to tap into a reserve fund created when loans associated with the project were restructured.
While Iowa lawmakers have passed a bill to fix a state error, leaving local governments down millions in expected revenue as they set their budgets for the 2024 fiscal year, Cedar Rapids still plans to invest in key priorities like flood control and economic development.
The City Council also signs off on a development agreement for Sub-Zero’s massive new light manufacturing facility near airport.
Development of massive industrial projects and multifamily housing soared in 2022, while office space continues to see increased vacancy rates according to a new report from GLD Commercial.
Construction is underway of a Big Grove Brewery in the heart of Cedar Rapids, bringing the award-winning local beer to the city this fall. The city council also signs off on new commercial facility, larger Lil’ Drug expansion.
Ten years into the redevelopment of Westdale Mall in southwest Cedar Rapids, the developer says “we’re kind of in deal-making mode” to complete the site’s transformation into a mix of housing, hotels, retail, dining and office space.
The Cedar Rapids City Council will award tax incentives Tuesday to International Paper for a $103 million expansion project. The facility will retain 240 jobs and create seven new ones at the high-quality wage threshold.
Starting June 1, American Airlines will begin nonstop service from the Eastern Iowa Airport to Reagan National Airport in Washington, D.C., adding a route that’s been years in the making for Cedar Rapids.
Cedar Rapids is putting public funds toward a new SSMID incubator program that aims to spur underdeveloped business districts to invest in projects that drive their own growth.
Watts Group to build a $10.7 million multifamily housing facility and two four-plex buildings at 705 16th Ave. SE. A commercial facility also is in the works at 2738 Edgewood Rd. SW.
Ryan Waller began the job in growing city in November 2021.
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