(Des Moines)– Two economic development projects in Emmetsburg were awarded funding today (Thursday) through the Iowa Economic Development Board at its meeting.
400-thousand dollars was awarded from the Value-Added Agricultural Products and Processes Financial Assistance Program for Poet’s biomass project at its Emmetsburg plant.
The 231 million dollar project will transform the plant into an integrated corn-to-ethanol and cullulose-to-ethanol facility.
The conversion, which will create 35 new jobs, was also awarded Enterprise Zone tax benefits.
Today’s (Thursday’s) award by the IDED combined with the Iowa Power Fund award of 14.5 million announced last week brings the total state contribution to the new plant to nearly 20 million dollars.
Also today (Thursday), Architectural Arts was approved for tax benefits for investing and creating 50 jobs in an Enterprise Zone. Architectural Arts is purchasing the equipment of IEI, which is closing its Emmetsburg operations.
Architectural Arts will lease IEI’s 48,000 square foot building, upgrade offices and bring in new equipment for the production of commercial millwork and solid surface composites.
The project is slated for completion in two years.
