- Associated Press - Friday, July 22, 2016

DES MOINES, Iowa (AP) - An idled steel castings foundry in Keokuk may come to life again and create 200 jobs with approval of state incentives.

The Iowa Economic Development Board on Friday approved $1 million in loans and additional tax breaks to reopen the former Keokuk Steel Manufacturing Co.

The plant was closed in March when its owner India-based Sanmar Group moved production to Mexico.

A new company called Keokuk Mills plans to reopen it to make steel products for manufacturers of agricultural, construction and utilities equipment.

The new company has budgeted $6 million to get the plant running again and plans to pay $14.39 an hour.

At its peak the plant had 550 employees but when it closed permanently employment was around 220.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide