Orange City, Iowa — An Orange City business that manufactures products for race cars is one of five Iowa companies to be approved for a tax incentive to aid in an expansion of their business.
K2W Precision began life about 20 years ago as Keizer Aluminum Wheels, according to K2W’s Nate Deweerd.
Deweerd says Keizer Aluminum Wheels morphed into K2W Precision about four years ago.
He says the tax incentive announced by the Iowa Economic Development Authority will allow K2W to avoid paying sales tax on the materials used for their expansion. Materials, he says, that will be purchased from local companies.
Deweerd says he and his partner, Wade Huisman, are excited about the expansion project.
The expansion project is forecast to add up to ten additional jobs, which would effectively double the current K2W workforce.
Other Iowa business receiving similar tax incentives for expansion include Cottington and Butler Insurance in Dubuque, BCI in Cedar Falls, the Zoetis plant in Charles City, and Frontier Natural Products in Norway, Iowa.
