CJ Bio proposes $51M expansion
10 Nov 2017
CJ Bio America may be bringing a $51 million expansion project to its Fort Dodge location to build a new manufacturing facility.
This major expansion would be great news for the county and for the ag park where CJ is located, known as Iowa’s Crossroads of Global Innovation, said Dennis Plautz, chief executive officer of the Greater Fort Dodge Growth Alliance.
“This is very good news to reinforce the attractiveness of what the city and county have built out there,” Plautz said. “This is exactly what we were looking for, and are continuing to look for.”
The expansion isn’t certain yet. CJ Bio has applied for incentives through the Iowa Economic Development Authority. If that is approved, it will be included in the company’s consideration of whether or not to do this project and when, Plautz said.
Webster County has proposed tax rebates estimated at $822,888 as its incentive for the project. This resolution will be discussed at the board of supervisors meeting Tuesday.
“Our amazing local workforce, coupled with an extremely supportive state and local government, put our Fort Dodge facility as a frontrunner in the expansion of our global business,” said Luke Palmer, the company’s general affairs manager. “The application for assistance is one of the key elements of paving a path for future growth at CJ Bio America’s Fort Dodge facility.
“Prior support, specifically the Research Activities Tax Credits, New Jobs Tax Credit, and the High Quality Jobs Program have helped with the establishment and growth of our business. We are hopeful that additional support will allow us to move forward with an expansion in the near future.”
The project is expected to create 18 jobs at $18.32 an hour, according to the county resolution. It would include $13 million in building and construction costs, and $28.9 million in equipment and machinery costs.
It will be built on land owned or leased by the company from Cargill.
The new facility would produce another amino acid product, Plautz said. Further details aren’t available yet.