Vogel Paints gets Incentives
February 22, 2016
THE IOWA ECONOMIC DEVELOPMENT AUTHORITY (IEDA) ON FRIDAY AWARDED DIRECT FINANCIAL ASSISTANCE AND TAX BENEFITS TO SIX COMPANIES FOR JOB CREATION AND EXPANSION PROJECTS. THESE AWARDS WILL ASSIST IN THE CREATION OF 159 JOBS, RETENTION OF 675 JOBS AND WILL RESULT IN OVER $53 MILLION IN NEW CAPITAL INVESTMENT FOR THE STATE.
THE BOARD APPROVED ASSISTANCE FOR PLANNED OR PROPOSED PROJECTS LOCATED IN WEST DES MOINES, JOHNSTON, MUSCATINE, CEDAR FALLS, CENTERVILLE AND ORANGE CITY.
VOGEL PAINTS IS SET TO MAKE $29.9 MILLION CAPITAL INVESTMENT AT ORANGE CITY MANUFACTURING FACILITY. VOGEL PAINTS AND WAX COMPANY, INC. IS A MANUFACTURER OF INDUSTRIAL POWDER AND LIQUID COATINGS, WOOD FINISHES, AUTOMOTIVE COATINGS AND OTHER MISCELLANEOUS COATINGS. THE BOARD AWARDED THE COMPANY TAX BENEFITS FOR A $29.9 MILLION CAPITAL INVESTMENT PROJECT THAT INCLUDES AN 86,000 SQUARE FOOT EXPANSION OF THE POWDER COATINGS MANUFACTURING FACILITY IN ORANGE CITY. THE PROJECT IS EXPECTED TO CREATE 49 JOBS, OF WHICH THREE ARE INCENTED AT A QUALIFYING WAGE OF $20.82 PER HOUR.
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