Tyson putting $28M into Iowa pork plant
Tyson Foods Inc. plans to invest $28 million into a pork processing plant in Iowa, which will expand the facility and create 245 jobs.
The Iowa Economic Development Authority on Friday approved $2 million in investment tax credits and $396,000 in sales and use tax refunds for Tyson's project, according to the Sioux City Journal.
All the new jobs will have to pay at least $17.29 an hour for Tyson Fresh Meats Inc., a wholly-owned subsidiary, to be eligible for the state tax credits and refunds.
"We are committed to the Waterloo community and look forward to adding more jobs, while also supporting the independent pork producers in this region," said Shane Miller, senior vice president of the Pork Division for Tyson Fresh Meats, in a statement.
The expansion includes the construction of a 56,400-square-foot warehouse and the renovation of 18,250 square feet for additional production lines, the Sioux City Journal reported.
-- Nathan Owens
Accounting firms set merger in two states
Two accounting companies, one in Arkansas and the other in Oklahoma, are merging to create an independent accounting firm that will employ more than 300 people.
JPMS Cox, based in Arkansas, and Oklahoma-based Hogan Taylor will merge on Jan. 1 and will operate four locations in Fayetteville, Little Rock, Tulsa and Oklahoma City, the companies said in a release. The combined firm will operate as Hogan Taylor.
"We have complementary skills, teams and industry expertise," said Gary Cooper, JPMS Cox managing partner, in a statement. "Joining forces with Hogan Taylor will let us bring our clients highly specialized services while deepening and enriching our ability to serve a growing list of clients in Arkansas and throughout the mid-South."
In total, the combined firm will employ 314.
-- John Magsam
State index up 1.75 to end day at 358.61
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.75 to 358.61 Monday.
"The major averages closed lower as investors responded to overseas elections and renewed uncertainty out of the Korean Peninsula," said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock.
Total volume for the index was 25.7 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 09/26/2017