IEDA Approves Incentives for Proposed Grimes Testing Lab
The following text is from an article published in the Des Moines Business Record on August 18th, 2017. A direct link to the article can be found
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IEDA board approves incentives for soil testing lab in Grimes
A multinational company will receive nearly $51,000 in tax incentives to build a soil testing laboratory in Grimes that will serve the firm’s U.S. operations. The Iowa Economic Development Authority board approved an investment tax credit of $20,830 and sales tax rebate of $30,000 for Farmers Edge, a company founded in Manitoba, Canada, and with other operations in Australia, Brazil and Russia. The company plans to spend $2.5 million on equipment purchases, building leases and other items that will lead to the creation of five jobs. The state incentives are connected to the creation of one job at a qualifying hourly wage of $29.12.