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State Incentives Approved to Attract ConAgra Food Co. Plant to Waterloo, Iowa

Posted on: Friday, 19 May 2006, 12:10 CDT

By Dan Gearino, Waterloo-Cedar Falls Courier, Iowa

May 19--DES MOINES --- The Iowa Economic Development Board voted Thursday to give a proposed ConAgra Food Co. plant in Waterloo $150,000.

That brings the state and local incentives for the plant to $1.3 million, which is a small share of the $46 million estimated cost of construction and job training for the plant. This doesn't include the up to $12.5 million in potential future tax breaks from the state and city governments.

ConAgra has said the plant would bring 47 new jobs to Waterloo with an average hourly wage of $23.32. There would be another three new jobs with lower wages.

"The company has very good benefits to go along with a good wage program," said Iowa Department of Economic Development staff member Michael Farley.

ConAgra employs 1,245 people in Iowa, 76 of whom are in Waterloo. The proposed new plant would be a 200,000-square-foot addition to the existing plant.

The company is one of the country's largest makers of packaged foods, serving grocery stores and restaurants.

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To see more of the Waterloo-Cedar Falls Courier, or to subscribe to the newspaper, go to http://www.wcfcourier.com.

Copyright (c) 2006, Waterloo-Cedar Falls Courier, Iowa

Distributed by Knight Ridder/Tribune Business News.

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CAG,

Source: Waterloo Courier

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