Tyson snags $674,000 in state tax credits for $44 million upgrade to Perry plant

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Source: Des Moines Register

Tyson snagged about $674,000 in state incentives Friday to help with a nearly $44 million upgrade its pork processing plant in Perry.

The Arkansas food giant said it would upgrade its chilling system, but the project would create no new jobs at the plant.

The Iowa Economic Development Authority board Friday approved providing Tyson with $674,326 in state tax credits, based on capital investment, and sales tax refund.

The board also approved incentives for:

  • Atlantic Bottling’s proposal to move its Rock Island, Illinois, operations to Walcott, to a newly developed $8 million building. The Des Moines business that bottles and distributes Coca-Cola products plans to invest $1.9 million equipping the building. It received a $240,900 sales tax refund. The project is expected to create 143 jobs.
  • Continental Carbonic Products proposes building a $19 million plant near Denison to make dry ice. The company, which would create 40 jobs, received a $125,000 forgivable loan and $1 million in state tax credits and sales tax refunds. Crawford County plans to provide a $225,000, three-year property tax abatement.
  • Scott’s Miracle-Gro Co. plans to invest nearly $2.7 million in Fort Madison to expand its lawn care production. The company proposes creating 41 jobs. It received $100,640 in state tax incentives and a $91,612 forgivable loan. Fort Madison plans to provide a three-year, $98,115 tax exemption.
  • Source Allies, an Urbandale technology services company, proposes investing $4.5 million to add space. It expects to hire 36 more IT workers and received $244,250 in state incentives, plus a $144,000 forgivable loan. Urbandale plans to provide a $114,605 rebate over five years plus a $28,800 loan.

Tyson Fresh Meats said plans to modernize its Perry facility will help it remain competitive and open international markets in Japan and elsewhere.

Two new pork processing plants also are coming online in Iowa, providing increased competition: Seaboard-Triumph Foods’ $300 million pork processing plant opened in Sioux City last fall; Prestage Foods is building a $250 million plant near Eagle Grove that’s slated to open early next year.

Tyson said the Perry plant employs 1,368 workers, and the new technology will require additional training.

Dallas County supervisors plan to provide a $573,369 rebate to Tyson over five years.

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