Kreg Enterprises, Inc. is proposing to construct an approximate 250,000 square foot office and manufacturing facility on 25 acres in the Crosswinds Business Park, adjacent to Interstate 35 and west of SE 77th Street. The total capital investment for this project is approximately $34 million. The proposed project includes associated site improvements and extending public infrastructure to serve the property. Infrastructure improvements and building construction will begin in 2019. It is anticipated that the project will be completed in early 2021.
Kreg has committed to creating 20 new jobs as a result of this expansion with wages exceeding 120% of the area median laborshed wage of $30.32/hour, plus benefits. The proposed development agreement includes claw-back provisions on all 20 jobs at the wages noted above. In addition to the new positions being created, Kreg will be relocating approximately 230 positions from their current facilities in Huxley. The City of Ankeny has received a sign off letter from the City of Huxley, which is required prior to providing local incentives for an in-state relocation project such as this. |