Beck’s Hybrids plants seed facility in Colfax
COLFAX, Iowa – Beck’s Hybrids plans to build a sales office and distribution center in Colfax. The company plans to invest $14.3 million in a facility that will create up to 50 jobs.
The Iowa Economic Development Authority has approved $200,000 in forgivable loans and tax benefits through the state High Quality Jobs Program in support of the project. The company plans to construct three buildings and develop 80 acres for agronomic test plots. The facility will also serve as the company’s main Iowa distribution center for seed produced and processed in Mt. Pleasant, as well as other facilities.
The proposed location is a farm west of the Colfax Microtel Inn & Suites and north of Interstate Highway 80. The Colfax City Council is in talks to annex the plot and has agreed to assume responsibility for a five-year property tax abatement on a diminishing scale recently approved by Jasper County. After that, the owners will pay full taxes on the property. The city will also extend a $20,000 forgivable loan to Beck’s Hybrids to be used for initial development.
Formed in 1937 and headquartered in Atlanta, Georgia, Beck’s Hybrids is the largest family-owned company that produces, processes and sells seeds in the U.S.
Source: Newton Daily News