A wind turbine maker says it will expand its operations at a plant in Iowa.
The Des Moines Register reports that Siemens Power Generation will invest in a $33 million expansion at its wind turbine blade factory in Fort Madison. The move is expected to add 287 good-paying jobs:
The new jobs would pay an average of $17.14 an hour, said the company, which seeks state incentives.
Siemens said it’s considering add 75,000 square feet to its 311,000-square-foot plant. It also would add a 125,000-square-feet facility and construct a rail yard. The Siemens plant in Fort Madison has been open a year and is its only U.S. blade manufacturing facility. It employs 246.
The Iowa Economic Development Board will consider providing Siemens with a
$1.4 million forgivable loan Thursday and an estimated $1.9 million in tax credits and sales tax refunds. Fort Madison also seeks to capture $2.8 million in state withholding taxes the company would pay, under a pilot program designed to help revitalize urban renewal areas in border cities.
As you might remember from my post back on October 11th, 2007, Iowa is seen as riding the crest of a potential $10 billion wind energy market. That was also the same time when Hendricks Industries said it would become the fifth wind turbine maker to locate in the state.