Pratt Industries plans to invest US$97.6 million in its first manufacturing facility in Iowa, to be located in Bondurant. The plant will produce corrugated packaging and other corrugated products.
According to the Iowa Economic Development Authority (IEDA), the project includes more than US$80 million in manufacturing equipment and is expected to create 105 jobs. The investment is also expected to increase the company’s use of suppliers based in Iowa.
The IEDA Board approved US$1.8 million in tax credits for the project through the Business Incentives for Growth programme. Of the 105 jobs expected, 20 are linked to a qualifying wage of US$35.11 per hour under the incentive programme…