Hydrite, an integrated manufacturer and supplier of chemicals and related services, announced their plans to expand its Waterloo, Iowa facility with the help of tax benefits awarded through the Iowa Economic Development Authority (IEDA) High Quality Jobs tax credit program.
Hydrite's plans include increased manufacturing and warehouse space and the expansion of their transportation fleet. The project represents a $21 million capital investment over the next three years and is expected to create 20 jobs at a qualifying wage of $20 an hour.
The expansion will bring the workforce total to 158 employees at the Waterloo location. The Waterloo site is Hydrite's only location in Iowa and is the company's largest facility.
The High Quality Jobs (HQJ) program provides qualifying businesses assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility (www.iowaeda.com/grow/high-quality-jobs/).
Grow Cedar Valley worked with Hydrite to make application to the Iowa Economic Development Authority (IEDA) Board for the High Quality Jobs tax credit program. The IEDA board announced award of the tax benefits on February 18, 2022. Additional incentives came from the city of Waterloo, and Hawkeye Community College in Waterloo, IA will provide job training.
