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Tax Credits Given to Companies
DES MOINES, Iowa (AP) -- State officials have approved tax credits to companies planning expansions in Cedar Falls and Milford.
The Des Moines Register reports the Iowa Economic Development Authority Board on Friday awarded more than $1.3 million in tax credits to Deer and Company, which plans to add two buildings and more equipment to a tractor testing lab in Cedar Falls.
The state requires Deere to retain 29 jobs in order to receive the tax credits.
The board approved a $300,000 forgivable loan and $706,000 in tax credits for Minnesota-based Polaris Industries. The snowmobile and ATV manufacturer plans to install a new assembly line to produce off-road vehicles at its plant in Milford, in northwest Iowa.
The company says it will add 150 jobs in Milford.
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