The Iowa Economic Development Authority Board on Friday approved $200,000 in direct financial assistance and $3.2 million in tax credits for a General Mills plant expansion in Cedar Rapids.
The $58 million project will convert 10,000 square feet of warehouse space at its Cedar Rapids facility into production space and create 41 jobs with an average annual salary of $57,000 at the plant, 4800 Edgewood Rd. SW.
The facility had about 600 employees in 2012.
Pending approval of the application and final decision of General Mills, construction will begin in mid-2014 with completion in early 2015, according to the Cedar Rapids Metro Economic Alliance.
The proposed project will convert warehouse space to food grade manufacturing space including inside building enclosures, footings and floor enhancements for food manufacturing equipment.
The project also will receive an $85,000 energy rebate from Alliant Energy over five years.
On Friday, the board also approved financial assistance and tax credits for four other companies, including a 21,000 square foot addition to the Hardi North America facility in Davenport. The $2.1 million project will allow Hardi North America, which makes agricultural sprays, to add a new product line.