A business in Clinton, Iowa, is getting state economic incentives for the promise of creating 53 new jobs as part of a $55 million upgrade project.
The Iowa Economic Development Authority (IEDA) Board recently approved tax credits for two manufacturing companies, which will assist in the creation of 98 jobs and result in $57.2 million in new capital investment for the state. The other project is in Waverly. Go here for more information on the grants.
One of those businesses selected is Archer Daniels Midland Company (ADM), a global food processing and commodities trading company that produces food, feed and industrial products from agricultural commodities.
With the tax credit incentive, ADM plans to convert an underutilized 463,503-square-foot fermentation facility at its Clinton complex into a precision fermentation facility, expanding the site’s ability to produce additional high-value biobased products. The project includes new processing equipment for separation, purification, drying and packaging, as well as upgrades to existing fermentation equipment, piping and supporting systems to enable large-scale production of proteins and enzymes.
The plant’s $55.5 million capital investment is expected to create 53 jobs incented at a qualifying wage of $23.57 per hour. The IEDA Board awarded $2.23 million in tax credits through the Business Incentives for Growth (BIG) program. In May, ADM announced the multimillion-dollar investment to upgrade corn receiving capacity at its Clinton corn processing facility.
The project will add two new high-speed receiving pits capable of handling up to 25,000 bushels per hour each, along with additional grain storage capacity and infrastructure improvements that will help move corn more efficiently through the facility. By significantly increasing the facility’s receiving capacity, the improvements are designed to help reduce wait times during peak harvest periods and create a smoother, more efficient grain delivery process for farmers.
“We’re investing to position our Clinton, Iowa, corn processing facility for continued success while dramatically improving the experience for our farmer partners,” said Tim McHenry, vice president for ADM’s North America Grain & Feed, in a news release. “These upgrades will help farmers spend less time waiting and more time in the field, and help ADM continue to connect those farmers and their crops to the many markets we serve.”
In addition to facility upgrades, the project will include improvements to the site’s inbound scale systems and the paving of a portion of the facility’s access road. The road improvements will help reduce dust and truck congestion, benefiting both grain haulers and nearby residents, the release said.
The high-speed pits are expected to be completed by the end of 2026, with storage enhancements scheduled for completion by summer 2027.
“Farmers want a simple, efficient experience when they arrive — pull in, unload, and get back to the field,” said Peter Bortoli, regional operations manager. “This project will allow us to receive corn faster, improve reliability, and offer a better experience for our farmers and our community.”
ADM expects much of the construction work and equipment sourcing for the project to come from contractors and suppliers in Iowa and the region, supporting local jobs and economic activity.
“We’ve been part of the Clinton community for more than 40 years,” Mr. McHenry said. “We’re proud to support local farmers, invest in our facilities, and contribute to the strength of this community.”
ADM has more than 750 employees in Clinton. The company’s Clinton footprint includes a corn wet mill that produces corn sweeteners and starches, beverage alcohol, corn oil, enzymes, ethanol, animal feed products and other food ingredients, as well as a grain elevator and barge loading operations. ADM is active in the community, supporting efforts including Food for the Soul and the Student Adventures Program.
In addition, an IEDA grant will give a Waverly company some state help.
Headquartered in Indiana, Impact CNC, LLC is a precision machining manufacturer serving original equipment manufacturers across multiple industries. Following its July merger with Waverly-based GMT, LLC, the company plans to install new manufacturing equipment to increase production capacity and support growth. The $1.7 million capital investment includes two vertical lathes, leak-testing equipment and assembly equipment, as well as computer hardware and software. The project is expected to create 45 jobs at a qualifying wage of $28.52 per hour. The board awarded it with $61,260 in tax credits through the BIG program.
The board also approved Community Attraction and Tourism (CAT) grants for projects in Forest City and Larchwood, as well as Strategic Infrastructure Program grants for three university-led projects that will strengthen Iowa’s advanced manufacturing, aerospace and defense innovation ecosystem.
Other projects to receive grant money include: