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Tag Archives: Deere & Co.

Economic Development Board Approves Cedar Valley Project

The Iowa Economic Development Authority (IEDA) board  awarded direct financial assistance and tax benefits to nine companies for job creation and expansion projects including a major project in the Cedar Valley. These awards will assist in the creation/retention of 484 jobs and will result in nearly $105 million in new capital investment for the state.

A proposed project includes an investment to expand tractor product laboratories at the John Deere Product Engineering Center in Cedar Falls. These investments will address the evolution of tractor size and power, and add test capabilities to help ensure that John Deere products meet customers’ expectations for productivity, reliability, efficiency and comfort. The project is expected to have a capital investment of $27.7 million and would retain 29 jobs at a qualifying wage of $18.84. The board awarded John Deere tax incentives through the HQJP to complete this project in Iowa.


TechWorks proponents forge ahead

September 30, 2013 12:00 pm Editorial – Waterloo Cedar Falls Courier


That’s why proponents of the Cedar Valley TechWorks should not lose heart.

TechWorks, the agri-industrial research complex being developed on portions of John Deere’s former Westfield Avenue facilities, is now 10 years in the making. It was jointly proposed in 2003 by then-University of Northern Iowa president Robert Koob and Barry Shaffter, then general manager of Deere’s Waterloo operations.

Part of the project appears to have hit what proponents call a financial “speed bump.” An application for historic designation through the U.S. National Parks Service has been turned down. At stake is some $10 million in historic preservation tax credits toward the $50 million project.

Proponents are forging ahead.

Bryce Henderson, chief financial officer and chief operating officer with Davenport-based Financial District Properties, the project’s developer, said, “This decision was largely subjective, and we’re going back next week to present our case again,” he said last week.

Darn right. With all due respect to the Park Service, we don’t understand how preserving and enhancing a complex that was the industrial heart of Waterloo for most of the 20th century cannot have historic significance. We areapproaching the 100th anniversary of John Deere’s entry into Waterloo with the purchase of the Waterloo Gasoline Engine Co. in 1918,  which was located on that very spot.

Henderson said the project will continue, and that there are backup financing plans. “You never go into a redevelopment project like this without a Plan A, Plan B, Plan C and Plan D,” he said.

Developers have not given up on securing the historic designation for the Tech 2 building, which is scheduled to open in the winter of 2014 with a Radisson business-class hotel with a ground-floor restaurant, John Deere training facility, showroom and office space and a location for education programs of Hawkeye Community College.

“Part of our discussion was how to get started on the west end of the campus around the museum (Deere Tractor and Engine Museum, now under construction) and Tech 1 while we’re still putting all the pieces together for the Green project,” said Steve Dust, president and CEO of TechWorks. “It was important to understand that we continue to move ahead, even though this is a very important part of the project.”

We appreciate and applaud that undaunted approach. We would ask Park Service officials to consider the alternative. Longtime Cedar Valley residents have seen many industrial buildings fall victim to the wrecking ball, which subsequently resulted in aesthetic eyesores and environmental cleanup headaches.

The TechWorks project is a responsible, systematic re-use of a major industrial site in this city, preserving the site’s heritage with a look to future technologies. That’s a plan worth pursuing, and fighting for.



TechWorks site plan change gets initial OK

By TIM JAMISON, tim.jamison@wcfcourier.com 

WATERLOO, Iowa — Plans for a major downtown manufacturing, research and tourism center breezed through the first zoning test this week.

There was no opposition during a public hearing Monday before City Council members voted 5-0 to approve the first reading of a site plan amendment for the Cedar Valley TechWorks campus, including the John Deere Tractor and Engine Museum.

“This basically covers the redevelopment and reuse of the existing buildings in the TechWorks campus,” said City Planner Aric Schroeder.

The site plan covers two six-story buildings and a 27-acre parcel Deere & Co. donated for the project on the western edge of downtown between Westfield Avenue and an extended Commercial Street.

Plans call for the “Tech 2” building to be turned into a 100-room hotel, restaurant and “green” office space, while the “Tech 1” building would house the University of Northern Iowa’s National Ag-Based Lubricants Center and other manufacturing tenants. The Deere museum, on the northeast end of the campus, is seeking a special permit and is expected to be open by the spring of 2013.

And the entire campus is expected to be fitted with wind towers and solar panels to attract “green-oriented” businesses.

Planning, Programming and Zoning commissioners endorsed the site plan last week. Schroeder said additional approvals, including platting out lots and special permits for the wind towers, are expected in the future.

“This is just one of the steps we have to go through,” said Cary Darrah, TechWorks general manager. “But we feel like we’ve got a pretty solid package and we will be both disappointed and surprised if there’s not some construction going on by this fall.”

The site plan allows platting to split off some of the original 40 acres so it can be returned to Deere & Co., including parking for the museum and some property on the other side of Commercial Street from TechWorks.

Darrah said officials and investors are working on completing the funding package for the estimated $50 million project. The key is getting tenant commitments to secure the financing for construction.

Read More: http://wcfcourier.com/news/local/govt-and-politics/techworks-site-plan-change-gets-initial-ok/article_c9c53961-e6d1-536e-834d-2db0efaae165.html#ixzz1xgaHdFsv

Be part of something greater - The Cedar Valley of Iowa

The Greater Cedar Valley Alliance & Chamber is a regional economic community development corporation working to increase economic vitality and wealth in the Waterloo / Cedar Falls area and surrounding economic region. The Alliance & Chamber has approximately 800 members that represents over 40,000 employees