IEDA Approves VT Industries Tax Benefits

The Iowa Economic Development Authority board Friday awarded direct financial assistance and tax benefits to six companies for job creation and expansion projects.

The awards will assist in the creation of 198 jobs and will result in 93-million dollars in new capital investment for the state.

VT Industries in Holstein is expected to create 60 jobs in a 21-million dollar capital investment project that would expand the current location to accommodate increased production and allow for relocation of existing offices.  The company received tax benefits for this project.

Wells Enterprises of Le Mars was also approved for tax benefits to create 81 jobs. Wells is planning a 40-million dollar capital investment, including the addition of new production lines and significant investments and various improvements to the manufacturing facilities. 
Other awards included Bruening Eye Specialists in Sioux City… and to firms in Urbandale and Durant.