Incentives for new company

WORTH COUNTY, Iowa –   The Worth County Board of Supervisors had one important topic on the agenda. They’re looking to approve some incentives for an international company to build within the county.  If everything is approved, it will be the first U.S. location for the still un-named business.

“Worth County is always pro-development.  We’ve been aggressive toward development at that Manly Terminal area.  Iowa Northern Railway and their partners have made a significant investment with Manly Terminal development, and we knew when that happened there would be future developments. This is just one of them,” said Teresa Nicholson, Executive Director of Winnebago and Worth County Betterment Council.

Right now, the Manly Terminal is a transport hub of ethanol products and the location of the terminal is what’s attracting the new company to North Iowa.  They would produce Sodium Methylate, which is a chemical compound used in bio-diesel production

“The terminal located themselves there because of that 300 mile radius and being able to distribute products for the ethanol industry. This company is also locating because of the 300 mile radius of the bio-diesel industry,” said Nicholson.

Before things move forward, certain parts of the plan need approval.  That includes a tax incentive and a guarantee some of the money will be paid upfront.  Both items needed approval from the Worth County Board of Supervisors.  After discussion, a TIF rebate or temporary property tax break was agreed upon, as well as the $30,000 upfront.  Now that the supervisors have given their approval, they wait.

“Hopefully those things will start to pay off. They’re not flashy, a lot of it isn’t seen, it’s underground, but very critical to the business location,” said Dennis May, Chariman of the Supervisors.

On Friday, the Iowa Economic Development Authority Board will be voting on the project.  If approved, construction could start at the end of this month.

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