DES MOINES, Iowa – The Iowa Economic Development Authority is giving $128,000 to an international company opening its first location in the United States.
New Heaven Chemicals Inc., a subsidiary of TSS Group in India, is going to build a new facility at the Manly Terminal in Worth County. The company will produce Sodium Methylate, a chemical compound used in the production of bio-diesel. In addition to the money, the IEDA is also granting tax benefits to the project, which is promising to create 16 jobs that pay at least $14.79 an hour.
On July 16, the Worth County Board of Supervisors okayed a tax incentive for New Heaven Chemicals, which included $30,000 paid upfront. The identity of the company was not disclosed at that time, pending the proposed project getting the support of the IEDA. Officials say construction on the new development could start by the end of July.