Article: Iowa approves funding for Cedar Rapids oat-fiber plant.

By George C. Ford, The Gazette, Cedar Rapids, Iowa Knight Ridder/Tribune Business News

Aug. 20--A $24 million Cedar Rapids oat fiber plant received state assistance Wednesday from the Iowa Department of Economic Development Board.

J. Rettenmaier USA, a unit of J. Rettenmaier & Sohne of Germany, was approved for a $250,000 loan/forgivable loan from the state's Community Economic Betterment Account. The loan, which represents 1 percent of the project's total cost, will create 26 jobs and retain 29 jobs at a new oat hull processing facility off C Street SW in Cedar Rapids.

The average hourly wage will be $19.05 per hour. The company also ...

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