Deer & Co. (NYSE: DE), the world’s leading manufacturer of agricultural machinery, has confirmed they will expand the manufacturing capabilities at their Des Moines facility.
The company, commonly referred to by its brand name John Deere, announced they will move ahead with a $113 million expansion after receiving approximately $10 million in tax incentives for the project from the Iowa Economic Development Authority and the City of Ankeny.
According to the Associated Press, Deere will invest $35 million into facility improvements, $33 million in new equipment and $45 million toward further research and development. Currently, John Deere Des Moines Works employs 1,900 people and primarily produces machines used during cotton production. Construction will commence in early 2012 and is expected to be finished by Spring 2013.
“John Deere has many options when considering where to locate its manufacturing work force, and we are pleased to work with the IEDA and the city of Ankeny to ensure these jobs remain here in the Des Moines area,” said the factory manager for John Deere Des Moines Works, John Teeple. “Today’s announcement certainly positions this facility for a strong long-term future.”