A partnership that has helped Northeast Iowa businesses with more than $71 million in training over the past three decades is helping 18 Iowa companies this year.
The Northeast Iowa Community College Board of Trustees has approved $8.1 million in 260E Industrial New Jobs training certificates. These certificates are expected to help bring more than 800 jobs to the area.
The certificates are bonds through the United Missouri Bank at 1.8 percent interest for a fixed 10 year rate.
"That means that individual companies though out our district have entered into an agreement with us where they can divert up to 3 percent of the withholding for their new employees that they are hiring to put aside money to provide training for these new employees," NICC's Vice President Economic Development Services Wendy Mihm-Herold said. "Basically it's a withholding tax that is diverted from going to the Iowa Department of Revenue, but is paid to pay off the bond to the community college. So instead of the business sending the check to the State of Iowa, they send up to 3 percent of that withholding back to the college to pay for their bond."
The eighteen businesses and the amounts in training certificates to be issued for each are: Advance Pump & Equipment Inc., $105,000 for 12 jobs; AVEKA Nutra Processing, LLC, $380,000 for 31 jobs; Behnke Enterprises, Inc., $215,000 for 25 jobs; Camoplast Rockland, LTD dba Camoplast Solideal, $150,000 for 23 jobs; CarteGraph Systems, Inc., $185,000 for 12 jobs; Caterpillar Elkader, LLC, $670,000 for 69 jobs; Deere & Company, $3,065,000 for 223 jobs; Digga North America, LLC, $390,000 for 34 jobs; East Iowa Machine Co., Inc., $95,000 for 10 jobs; Exide Technologies, Inc., $420,000 for 45 jobs; Green Industrial Supply, Inc., $170,000 for 20 jobs; Heartland Financial USA, $290,000 for 32 jobs; Hodge Company/TM Inc., $110,000 for 21 jobs; International Business Machines Corp. (IBM), $460,000 for 30 jobs; Mobile Track Solutions, LLC, $225,000 for 24 jobs; Sedgwick Claims Management Services, Inc., $765,000 for 120 jobs; TriMark Corporation, $390,000 for 69 jobs; and WW Homestead Dairy, LLC, $35,000 for 8 jobs.
Mihm-Herold says this program has been around since 1983, but most years the program only works with about 10 businesses.
Danielle Dotzenrod is the co-owner of Dotzy's Restaurant and Saloon in Elgin. When she was 16 she won a modeling contest and represented the U.S. abroad.More >>
Danielle Dotzenrod is the co-owner of Dotzy's Restaurant and Saloon in Elgin. When she was 16 she won a modeling contest and represented the U.S. abroad. She's spent the last 13 years living in Los Angeles, California singing and acting and doing other jobs in the entertainment industry.More >>
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Sandy Youngblut at 319-291-1259. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at firstname.lastname@example.org.