CLEAR LAKE, Iowa (AP) — Clear Lake officials have been working on landing a regional warehouse and distribution project that could bring more than 160 new jobs to the area.
The Mason City Globe Gazette says (http://bit.ly/1ji5cuD ) the company hasn’t been named but is described as being among the first 100 of the Fortune 500.
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City Administrator Scott Flory says the city is taking legal steps on a development agreement and an incentive package that would include a 10-year forgivable loan of $1.6 million.
Brent Willett, head of the North Iowa Corridor Economic Development Corp., says local officials “have not received notification that this is a done deal.”
The Clear Lake City Council has set a Feb. 17 public hearing on a 15-year development agreement.
Construction would take about 18 months.
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Information from: Globe Gazette, http://www.globegazette.com/
