Land O’Lakes project wins state support
By BILL SHEA
For Farm News
A project that will change the skyline of southern Fort Dodge and keep 40 jobs in the city received a boost Thursday.
That’s when the Iowa Economic Development Authority Board unanimously voted to approve $200,000 no-interest loan for renovations at the Land O’Lakes property at 2827 Eighth Ave. S.
The company plans to invest $1,119,580 in the property. The project includes tearing down most of the buildings, including the unused grain elevators. About 12,000 square feet of the existing office building will be retained and remodeled.
”Land O’Lakes is a company that has been in Fort Dodge for so long that we truly wanted to do everything we could to keep them in town,” said Dennis Plautz, the city’s director of business affairs and community growth.
The city government will give the company $40,000 from a tax increment financing account. Tax increment financing occurs when increased property tax revenue is desiginated area is set aside to be reinvested in that area.
The project emerged from a company effort to consolidate its offices. The company had considered keeping its employees in Fort Dodge, moving them to one of three other locations in Iowa or relocating them to corporate headquarters in Arden Hills, Minn.
The Fort Dodge office is occupied by the company’s WinField Solutions unit, which specializes in seed and crop protection products.
Contact Bill Shea at (515) 573-2141 or email@example.com
Please Enter Your Facebook App ID. Required for FB Comments. Click here for FB Comments Settings page