Deere Plans $113M IA Expansion
DES MOINES, Iowa (AP) — Deere & Co. is moving ahead with a $113 million expansion at its plant in Ankeny in the wake of almost $10 million in tax incentives for the project.
The Des Moines Register (http://dmreg.co/tY5PS6 ) says the Moline, Ill.-based company confirmed plans Tuesday to expand the manufacturing capacity at the factory, which makes products primarily for cotton production.
The plant has 1,900 workers, and the company has said the expansion will retain 400 jobs.
Deere plans to invest $35 million in the plant, nearly $33 million in equipment and $45 million in research and development.
The Iowa Economic Development Board approved the tax incentives last Friday.
Deere will add production capacity for self-propelled sprayers, a product already made at the factory. Construction is slated to begin in the spring.