According to a report today in the Des Moines Register, Deere & Co. is seeking state incentives for a $112.8 million manufacturing expansion at its Ankeny, Iowa, campus.
The project would retain 400 "at risk jobs," according to state documents about the project. Deere says it is weighing building 300,000 square feet for production of self-propelled sprayers at its John Deere Des Moines Works facility.
The Moline, Ill.-based company proposes investing $35 million in the plant and $32.8 million in equipment, state documents show. Deere would invest $45 million in research and development as well. It seeks an estimated $9.8 million in state tax credits for the project.
Deere said last month its Ankeny facility has boosted its work force by 25%, to 2,000 employees as sales of cotton harvesting, tillage and planting equipment made at the plant continue at a brisk pace.
Deere said in a conference call to discuss earnings that its cotton harvesters were "sold out."