Benton Development Group announces new projects in Benton County receiving support from the Iowa Economic Development Authority. Tax credits under the High Quality Jobs (HQJ) program were approved for Frontier Co-op in Norway and the Iowa Braille and Sight Saving School property in Vinton received $200,000 in redevelopment tax credits through the Brownfield/Grayfield program to repurpose the 1905 Hospital building into a brewpub.
Frontier is one of Benton County’s major employers and a leading supplier of organic herbs and spices. The company, founded in 1976, offers high quality, competitively priced products that are environmentally friendly and socially responsible. Frontier Co-op products can be found in grocery stores and specialty shops throughout the United States and Canada.
To meet an increasing demand, the company will add bottling lines, fillers, and expand warehouse capacity by 22,000 square feet. The project was awarded tax benefits through the HQJ program and represents a capital investment of just over $7.3 million. It is expected to create 24 jobs, of which four are at a qualifying wage of $27.84 per hour.
Hobart Restoration received $200,000 in tax incentives for the $1.3m redevelopment of the 1905 Hospital at the Iowa Braille School site. This is the first part of the $20m project by Hobart Historic Restoration that will develop the entire former Iowa Braille and Sight Saving School campus in Vinton. The school was founded in 1852 but closed in 2011 after enrollment declined. The 3,200 square foot brewpub will have indoor and outdoor seating and offer locally brewed beers and smaller menu items.
“For several years, the Iowa Braille School project has been an important part of our work with the State of Iowa,” said Kate Robertson, Benton Development Group’s Executive Director. “We worked closely with state and local governments to facilitate redevelopment of the facility on behalf of Vinton residents and the entire county. On the other side of the county, we worked with Frontier Co-op and the Iowa Economic Development Authority to gain approval of tax incentives under the HQJ program. Our focus is on developing every community in Benton County, and we’re pleased by the opportunity to help both these projects.”
Robertson also noted the importance of regional economic development relationships, specifically with the Cedar Rapids Metro Economic Alliance. “Economic development depends on cooperation across the boundaries of cities and counties. BDG has helped secure investment in many Benton County communities and continues to work on important projects across the county, but major initiatives like these benefit because of strong partnerships, like the Cedar Rapids Metro Economic Alliance.”
To learn more about what Benton Development Group can do for your business or community, visit www.bdgia.com.