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Article: Iowa approves funding for Cedar Rapids oat-fiber plant.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 20, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...