Farm equipment maker Deere and Co. and CJ Bio America, which uses biofuel co-products to make lysine for feed rations, both were recently awarded state tax benefits for expansion projects by the Iowa Economic Development Authority.
The Deere award is for the company’s Intelligent Solutions Group, which specializes in developing advanced software and hardware technologies for farm equipment. In the project, which represents a $32.6 million capital investment, Deere will build a new facility in Urbandale to replace leased space.
The project, which was awarded $2.9 million in state tax credits, adds to central Iowa’s reputation as a destination for “high-profile IT companies,” said Curtis Brown, Urbandale’s economic development director.
CJ Bio America, a subsidiary of a South Korean company, plans a $46 million investment for new facilities in Fort Dodge, which are adjacent to a large biofuels plant operated by Cargill.
CJ Bio America uses ethanol co-products to produce lysine at the Fort Dodge plant for sale to swine and poultry growers.
The company was awarded tax benefits of $901,430 for a $46 million capital investment that involves construction of new production buildings. The project is expected to create 18 jobs in Fort Dodge.