Cargill to Invest $37M in Iowa Soybean Plant UpgradeCargill to Invest $37M in Iowa Soybean Plant Upgrade

American agribusiness Cargill recently received approval from municipal officials in Cedar Rapids, IA to move forward on a $37.6 million effort to upgrade equipment and add space to its soybean processing plant in the city, local news organizations reported this week.

At a meeting Tuesday, the Cedar Rapids City Council passed a resolution to support the firm’s investment plan and to sponsor its application for $429,800 in tax credits, according to coverage by ABC News affiliate KCRG. Reports said the Iowa Economic Development Authority will make a decision on whether or not to provide tax credits to Cargill on January 17. 

Cargill’s investments at the soybean plant at 410 C Ave. NW will include $31.5 million toward new machinery and design and engineering services and $6.12 million to build 27,000-sq-ft of new space at the site. 

“The potential investment is more about upgrading our equipment to continue to provide employees a safe place to work, while also increasing our efficiency,” Cargill spokesperson Victoria Bagley told the Cedar Rapids Gazette. 

No new jobs will be created as a result of the project, but the company said the investment will help to retain existing positions at the plant. 

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