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Friday, July 22, 2016
Mills Group Brings Jobs to Keokuk
Keokuk Mills to reopen steel casting foundry
Keokuk Mills, LLC, is a company recently formed to reopen the Keokuk Steel Manufacturing Company, which was closed in March 2016 by its parent company. The new organization proposes to restart operations of the steel casting foundry that produces castings for manufacturers in the agricultural, construction and utility industries.
The project has a capital investment of $4.5 million and is expected to create 200 jobs at a qualifying wage of $14.39 per hour. The board awarded the project direct financial assistance of $1 million and tax benefits via HQJ. Additionally, the TJWTC program will also be accessed in the amount of $400,000 to assist with this project in Keokuk.
The Mills Group is investing $6 million in the purchase of the plant, which includes two buildings totaling 300,000 square feet.