CEDAR RAPIDS — Van Meter Inc., a Cedar Rapids-based distributor of electrical and energy products, wants to expand its warehouse and distribution center in the city.
The company, based at 850 32nd Ave. SW, has proposed spending $4.2 million to construct a 42,000-square-foot addition to its existing distribution center.
“We’ve experienced significant and consistent growth in recent years and are confident that our investment in an expansion will position us for continued success in the Midwest and nationally,” Chief Financial Officer Melanie Fisher Doyle said in a news release.
Van Meter has asked the city of Cedar Rapids and the state for financial assistance for the project. The City Council will review Van Meter’s request during a meeting Tuesday. City incentives would come in the form of a 10-year tax exemption, estimated at $355,700 over that period, according to council documents.
The project would add 21 new jobs, 11 of which would pay more than $21 an hour, council documents show.
The Iowa Economic Development Authority will consider the company’s request for tax credits on May 18.
Van Meter started in Cedar Rapids in 1928 and has about 550 employees across 15 Midwest locations.
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