(Des Moines) Friday, the Iowa Economic Development Authority Board approved awards for two local companies.
Green Plains is constructing a new technology plant in Shenandoah. A subsidiary of Iowa’s Green Plains, Inc., Green Plains Shenandoah, LLC is expanding its focus on value-add agricultural technology, and will create diverse, non-cyclical, high margin feed ingredients, specialty alcohols and renewable feedstocks for the renewable diesel industry. The company plans to construct its Clean Sugar Technology plant adjacent to its biorefinery in Shenandoah, which will produce low carbon dextrose. The board awarded this $50 million capital investment project a $250,000 forgivable loan and tax benefits through the HQJ program. It is expected to create 12 jobs incented at a qualifying wage of $21.78 per hour.
Templeton Rye Spirits is expanding Templeton their warehouse. Templeton Rye Spirits, LLC produces Templeton Rye whiskey. The company plans to expand its warehouse facilities in Templeton for long-term barreling. The project is expected to create three jobs, of which two are incented at a qualifying wage of $22.63 per hour. It was awarded tax benefits through the HQJ program and represents a capital investment of $13.6 million.
