A project approved in 2013 is now beginning to take shape, and it provides an opportunity to reflect on the value of investments which continue to be made in the Johnston community. The City Council will hold a public hearing on September 15, 2014 to consider a development agreement with DuPont Pioneer. The total investment is estimated to be more than $28 million, and taxable valuation is expected to increase by more than $14 million.
The project includes a combination of new construction and renovation, and represents 105 new jobs. Approval for the project had previously been given by the Iowa Economic Development Authority and the City of Johnston in 2013, but the project now comes back to the Council in the form of a development agreement which would provide up to $2.2 million in Tax Increment Financing (TIF) assistance. Long term benefits to the community are significant and come in the form of construction jobs, increased overall tax base for the city, schools and county, and further growth of very high quality jobs. A summary of the project and the public hearing resolution has been posted here. It includes an interesting map which illustrates the numerous company projects in recent years. Thank you DuPont Pioneer for continuing to invest in Johnston!