Business To Make $29.9M Capital Investment In City
Date posted - February 20, 2016
Orange City, Iowa — This past week the Iowa Economic Development Authority (IEDA) board 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. One of those projects is in Orange City.
The board also approved assistance for planned or proposed projects located in West Des Moines, Johnston, Muscatine, Cedar Falls, and Centerville.
Vogel Paint is set to make a $29.9 million capital investment at their Orange City manufacturing facility.
Vogel Paint and Wax Company, Inc. is a manufacturer of industrial powder and liquid coatings, wood finishes, automotive coatings and other miscellaneous coatings.
The state economic development board awarded the company tax benefits via Iowa’s High Quality Jobs program 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.