Cedar Rapids OKs tax incentives for $8.5 million commercial facilities thegazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegazette.com Daily Mail and Mail on Sunday newspapers.
The Cedar Rapids City Council awarded incentives this week to a developer to build a $21 million Airport Commercial Park in southwest Cedar Rapids that would bring new warehouses online in a part of town where industrial development is booming. Corridor Construction Network also received incentives fora $5.4 million expansion.
In awarding city financial incentives to an unnamed company to build a $576 million data center in the Big Cedar Industrial Center, members of the Cedar Rapids City Council lauded the project the city’s largest ever as a “historic” milestone for Cedar Rapids.
A developer gained the city’s support to seek competitive Low Income Housing Tax Credits from the Iowa Finance Authority to transform the derecho-damaged MAC building at 1220 Jacolyn Dr. SW into a $16 million affordable housing facility.
Local developers were awarded city financial incentives this week to build a $4 million Brown NationaLease facility in southwest Cedar Rapids that will create 10 jobs. The company leases a space in North Liberty.