(Red Oak) The Iowa Economic Development Authority approved assistance to Parker-Hannifin to increase capacity in Red Oak.
Specializing in motion and control technologies, Parker-Hannifin Corporation provides precision-engineered solutions for mobile, industrial and aerospace markets. The company plans to make investments in manufacturing machinery and equipment that will support the need to expand production at their Red Oak location.
The project represents a capital investment of $2.5 million and was awarded tax benefits through the High Quality Jobs program. It is expected to create 65 jobs, of which 35 are incented at a qualifying wage of $22.60 per hour.
