The city of Coralville has been awarded a $1.6 million state grant for roadway improvements to the site of a $12 million facility planned by Sedgwick Claims Management Services.
The Iowa Transportation Commission approved the funds Tuesday to extend University Parkway by 1,850 feet and Ridgeway Drive by 1,400 feet in an area east of Coral Ridge Avenue in the north central portion of Coralville.
Sedgwick Claims Management Services announced plans for a new claims processing center in Coralville that will create 212 jobs in three years, at an average wage of more than $18 per hour.
The city of Coralville will contribute $408,238 to the road project, which will have a total cost of $2,04,188. The state funds were awarded under a RISE (Revitalize Iowa’s Sound Economy) grant.
City Administrator Kelly Hayworth said the project builds on an earlier project assisted by a RISE grant project to extend University Parkway for a development that houses MediRevv, a medical revenue cycle management company. Hayworth said MediRevv is planning to expand employment after moving into the facility last week.
The RISE grant is part of a basket of government incentives planned Sedgwick Claims Management, which include a $1.45 million forgivable loan from the Iowa Economic Development Authority.
In addition to assisting Sedgwick, the street project is expected to open 21 acres for development in the Forevergreen Business Park area.