JOHNSTON, Iowa (AP) — Iowa has lost its bid to land the corporate headquarters of the agricultural company that will be formed after the DuPont-Dow Chemical merger is completed.
The Des Moines Register reports (http://dmreg.co/21dxKJ1 ) that DuPont and Dow announced Friday that the headquarters will be located in Wilmington, Delaware. The new company will retain strong presences in Johnston, Iowa, where DuPont Pioneer is situated, as well as Indianapolis, Indiana, home to Dow Agrosciences.
The Iowa Economic Development Authority's due diligence committee Friday approved a $2 million forgivable loan and up to $14 million in research activities tax credits for the new company. The full board is expected to approve the measure later Friday.
The credits apply to the expected 250 to 500 research and development jobs the company expects to retain in Johnston.
Information from: The Des Moines Register, http://www.desmoinesregister.com