Farm equipment maker Art's Way Manufacturing will invest $1.4 million to purchase and expand a factory and warehouse in West Union, Iowa, that is expected to create 40 jobs.
The company, which makes of niche agricultural machinery and equipment, says it plans to purchase a 190,000 square foot facility in West Union. A grant and loan of $65,000 from Iowa Economic Development Board will help offset expenses associated with building repairs and machinery and equipment. Art's Way is also eligible to receive $158,000 for job training. The Board provides incentives that range from loans to tax credits to growing companies like Art's Way Manufacturing.
J. Ward McConnell, Jr., Executive Chairman of the Board, said, "We are very pleased to receive this grant from The Iowa Economic Development Board as it reinforces the strength, importance and industry leadership of Art's Way Manufacturing. Our entire team has worked extremely hard to demonstrate to the Iowa Economic Development Board that we are worthy of this funding. Our plans for this facility will be a combination of warehouse for finished products and production of some of our ag lines. The addition of this facility will allow us to gain valuable production space and will certainly allow us to accommodate any future acquisition. The $1.4 million warehouse and factory expansion will create approximately 40 new jobs. We are doing final due diligence but expect to close on the facility around April 30, 2010."About Art's Way Manufacturing, Inc.
Art's Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment, manure spreaders and top and bottom drive augers. After market, service parts are also an important part of the Company's business. We have two wholly owned subsidiaries. Art's Way Vessels Inc. manufactures pressurized tanks and vessels; Art's Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.
