(Des Moines) The Iowa Economic Development Authority Board has approved tax credits for a major expansion by Woodbine Manufacturing Company.
The family-owned company, which was founded in Woodbine in 1965, plans to construct a new manufacturing facility in Harrison County.
Woodbine Manufacturing designs and produces hydraulic liftgates and cargo-handling equipment for commercial vehicles under the Tommy Gate and Anteo brands.
The project represents a $58 million capital investment and is expected to create 20 new jobs, with all of the positions incented at a qualifying wage of $27.75 per hour.
The IEDA Board awarded the company $2.18 million in tax credits through the Business Investment and Growth, or BIG, program.
The new facility will allow Woodbine Manufacturing to increase production capacity, expand existing product lines and add new products.
Statewide, the IEDA Board approved tax credits for six manufacturing projects expected to create 346 jobs and generate nearly $246.5 million in new capital investment. The projects are located in Altoona, Ankeny, Bondurant, Centerville, Davenport and Woodbine.
