DES MOINES — The Iowa Economic Development Authority (IEDA) Board approved awards for three legacy companies in Cedar Rapids, Nevada and Sioux City, which will assist in the creation of 135 jobs and result in more than $65 million in new capital investment for the state.
General Mills, a global food company that produces and markets more than 100 consumer brands in more than 100 countries, makes cereal, fruit snacks and frosting from its Cedar Rapids facility. The project proposes to modernize an existing production line to increase production capacity. Investment will be made on upgrades to existing production equipment and for new, more efficient machinery and equipment. The board awarded the project tax benefits through the High Quality Jobs (HQJ) program. The project is a $37 million capital investment and is expected to create 50 jobs, of which three are incented at a qualifying wage of $23.20 per hour.