Osmundson Manufacturing Co. will receive tax benefits on its planned $19 million expansion of its plant near Perry, the Iowa Economic Development Authority (IEDA) announced Friday.
The IEDA board awarded the tax benefits to Osmundson’s $19 million capital investment project through the High Quality Jobs (HQJ) program, which helps businesses to offset some of the costs incurred to locate, expand or modernize an Iowa facility.
Located west of Perry near the Perry Municipal Airport, the fifth-generation, family-owned company designs agricultural disc, coulter and seeding blades for original equipment manufacturers and distributors worldwide. The factory plans to expand its Perry facility by approximately 20,000 square feet in order to increase manufacturing capacity and employee amenities, an IEDA statement said.
The Osmundson expansion is expected to create 17 jobs, according to the IEDA, of which “two are incented at a qualifying wage of $28.70 per hour.”
Rachel Wacker, executive director of the Greater Dallas County Development Alliance, said her group worked for six months with Osmundson’s, Dallas County and the IEDA to help leverage the financial programming that the project was eligible for.
“We would like to acknowledge the Greater Des Moines Partnership for their support during the HQJP application process, the County for their support of the project through a local match, and the city of Perry for continuing to make their community a place for choice employers, like Osmundson, to expand their business and grow their workforce,” Wacker said. “This project was incredibly competitive, and we are thrilled that our location was the best choice for business growth!”
In December Osmundson’s announced plans for a new $12.5 million, 35-acre facility in western Kentucky that will bring some 80 jobs to the Mayfield, Kentucky, area. The 150,000-square-foot facility will house two hot production lines and support cold workstations that will produce 20-inch and larger disc blades for both the agriculture and construction industries. Construction is expected to be completed by 2025 on the new Kentucky plant.
Osmundson’s have been a great business in the Perry community. They are very fair and generous with their employees. The family has deep roots in the Perry community. It is sad that Doug and his family moved to West Des Moines, but the business is still here and thriving! I worked for Mr. Osmundson and for Doug and Mary Bruce, and they were wonderful. I wish them the very best in everything they do! –Chuck Schott