Rembrandt Enterprises plans to build a $92 million large-scale egg processing plant in Winnebago County, Iowa. The new plant is expected to employ 197 people.
Rembrandt informed the Iowa Economic Development Authority board, it will build an egg processing plant to market egg protein powder within the United States and globally. This plant will include a large-scale pasteurizer, pasteurizing rooms, high-volume egg dryers and both liquid and dried packaging equipment.
Construction of the plant will begin immediately, Teresa Nicholson, director of the Winnebago and Worth Counties Betterment Council, told the Globe Gazette. Construction is expected to be completed by the end of 2015, with processing operations planned to begin in January 2016.
Rembrandt Enterprises already has an egg-laying facility in Winnebago County.
The Iowa Economic Development Board on February 3 approved $9.7 million in tax credits to the company.
Rembrandt also got financial help from the Winnebago County Board of Supervisors, which approved a tax increment finance refund package for the project that will refund 25 percent of increased property taxes the first two years, 35 percent in years three and four, and 60 percent in years five through 10.
The county's tax refund was a key to the state economic development board's approval of other state tax incentives, Nicholson said.
