Tagged: Economic Development Lee County

Lee County is pledging its support to an effort to land a new industry.

The Board of Supervisors has agreed to meet, or even exceed, the 20% local match required for Iowa Fertilizer Company to receive state funding.

The company is considering the county for a $1.3-billion fertilizer plant.

The Iowa Economic Development Authority Board has signed off on tax credits and $1.6-million in loans for the project, half of which would be forgiven if certain requirements are met.

The Iowa Economic Development Authority Board is paving the way for a pair of projects in southeast Iowa.

During a meeting on Friday, the board signed off on a $1.6-million dollar award for the development of a large-scale fertilizer plant on 300 acres of land near Wever in northern Lee County.

The funding for Iowa Fertilizer Company will come through a forgivable loan, a loan, and tax benefits.

The company is a subsidiary of Orascom Construction Industries out of Cairo, Egypt.