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CBJ Report: Cargill's CR corn milling operations hitting milestone

Cargill Corn Milling in Cedar Rapids is hitting a major business milestone next week. Local officials will join Cargill Monday to celebrate the 50th anniversary of the plant at 1710 16th St. SE, which has grown and expanded many times over the years. (CBS2/FOX28)

Cargill's CR corn milling operations hitting milestone

Cargill Corn Milling in Cedar Rapids is hitting a major business milestone next week.

Local officials will join Cargill Monday to celebrate the 50th anniversary of the plant at 1710 16th St. SE, which has grown and expanded many times over the years.

Cargill can produce about 200 different food products from corn in Cedar Rapids, according to a 2012 media report, including corn syrup, food starches and pet-food ingredients. The plant has gradually increased its "grind," or corn intake, as its milling and processing capacity has been expanded.

A 2 p.m. observance Monday with Cargill and local leaders will feature a plant dedication and appearances by U.S. Rep. Rod Blum, Mayor Ron Corbett and State Sen. Liz Mathis.

Minneapolis-based Cargill is a privately held global food company. It reported net earnings of $973 million for the company's fiscal quarter ended Aug. 31, up 14 percent from $827 million in the year-earlier quarter, and revenues of $27.3 billion. The company also has soybean processing operations in Cedar Rapids.

The celebration comes as Cargill has announced it will develop and sell sell new "native starches" made from plants like corn and wheat. The move comes as the company seeks to meet consumer demands for simpler ingredients and as food processors seek to replace modified food starches - a product Cargill calls the "workhorses of the texturing world."

Involta opens largest-yet data center in Pittsburgh

Involta LLC of Cedar Rapids has completed a new data center in Pittsburgh that is its largest original-construction data center to date.

The new data center has UPMC, Pennsylvania's largest nongovernmental employer, as its data center. Affiliated with the University of Pittsburgh Schools of Health Science, UPMC operates more than 20 hospitals, 500 doctors offices and outpatient sites and has a 3 million-member Services Division.

Involta CEO Bruce Lehrman said the opening continues Involta's practice of entering a market with a major anchor tenant, and oversizing the center so that it can accommodate future tenants and expansion. In addition, he said Involta continues to improve the energy efficiency of its data centers by applying technological improvements and lessons from previous data centers.

Involta derives about 40 percent of its business from health care organizations, Mr. Lehrman said. Some 40 Involta employees from around the United States will be chosen by lottery to attend the Pittsburgh facility's ribbon-cutting.

The company had in 2015 acquired Data Recovery Services, which operated leased call center space in the Pittsburgh market. It will be the company's 15th data center.

Tic Toc sold out of foreclosure proceeding in Cedar Rapids

One of the oldest pubs in the College District of Cedar Rapids has been sold after undergoing foreclosure proceedings by lenders and other creditors.

The Tic Toc, at 600 17th St. NE, was acquired out of default proceedings by KN Properties 5 for $150,000. The 2,160-square-foot yellow-brick building is a local landmark in the College District, most recently operated by K-C Eateries.

KN Properties is a corporate name used in previous development projects by local restaurateur Kory Nanke. He has recently been involved in redeveloping properties in the Kingston Village area as part of a development group called West Side Wolf Pack. He also is part of a group that obtained city incentives to redevelop historic storefronts at 203 and 207 First Ave. SE and 110 and 112 Second St. SE under the KN Properties name.

After a default judgment was entered in foreclosure proceedings by a bank in February, KN Properties 5 acquired the Tic Toc building on Sept. 14. The 86-year-old building is listed on assessor records in above-average condition for its age.

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