On December 17,2018, Minnesota manufacturer and retailer Northern Tool & Equipment told local elected officials that the company plans to open a new distribution center in central Iowa.
Northern Tool expects the $75 million, 600,000-square-foot facility in the Des Moines suburb of Ankeny, Iowa, to create 183 jobs. The company’s real estate development director told the Ankeny City Council that Northern Tool & Equipment hopes the warehouse will facilitate continued growth in the Midwest, the Des Moines Register reports.
The paper added that Ankeny council members backed 10-year, 60% tax-increment financing rebates for the project, which is expected to amount to about $3.3 million in incentives. Those incentives could be increased if Northern Tool & Equipment expands the center within five years.
The company is also seeking assistance from the state’s economic development program, while Ankeny hopes Iowa’s transportation department will help fund infrastructure upgrades near the development.
Northern Tool & Equipment expects to move into the facility in early 2020.
Image credit: Chepko Danil Vitalevich / Shutterstock.com
