Davenport may spend more than 11 million dollars to help Kraft Heinz build a new plant. Wednesday night the city council will hold a public hearing on a proposed development agreement.
Kraft Heinz plans to close the old plant on West Second Street in Davenport, and replace it with a state-of-the-art food processing plant on the north edge of the city. It would be on 70 acres in the Eastern Iowa Industrial Center and cost 203 million dollars.
The company also promises to retain at least 475 full-time jobs.
As part of the proposed agreement, Davenport will rebate property taxes up to 10 million dollars over 15 years. And it promises to spent 1.6 million dollars on road improvements to the new plant.
But a state grant will pay 80 per cent of the cost of the road projects.
