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Alfagomma America gets financial assistance for new steel tube line
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Tuesday, 23 Oct 2012
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The Hawk Eye reported that Alfagomma America was one of six companies to receive financial assistance from the Iowa Economic Development Authority board.

The financial assistance awarded was to help the Iowa facilities with job creation, expansion and small business development projects. The awards will assist in the creation of 112 new jobs and will result in USD 15.8 million of new capital investment to the state.

The Alfagomma America plant in Burlington plans to take over the stainless steel tube production for its affiliate in Italy. The USD 1.3 million capital investment by Alfagomma America includes the purchase and installation of new equipment this year. The project is expected to create 14 jobs, and training will start immediately for new hires.

The company was awarded tax benefits by the IEDA board.

Mr Debi Durham director of IEDA said that "We continue to collaborate with businesses and communities to achieve our goal of creating high quality jobs in Iowa. We are pleased to see the positive impact of state programs on communities state wide."

Alfagomma America opened its first and only US facility in Burlington in 2003. The company assembles flexible hydraulic hoses for earth moving equipment and agricultural uses.

The board approved assistance for planned or proposed projects located in Burlington, Urbandale, Story City, Sioux Center, Sibley and Janesville.

Source - The Hawk Eye

(www.steelguru.com)

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