Tax incentives entice office
furniture maker to relocate
to new state
Office & organizational furniture
manufacturer Safco Products will add
100 manufacturing jobs at its new plant
in Milford, Iowa thanks to an economic
incentive package from the city.
The 430,000-square-foot plant, previously operated by off-road vehicle manufacturer Polaris Industries, was shut down
in April after Polaris ceased operations
there. Aiming to fill some of the jobs lost
in April, the Milford City Council voted
4-0 to approve economic development
incentives to Safco Products.
To receive the incentive package,
Safco had to purchase the plant and
fill 100 manufacturing jobs right away.
The approved incentives are a city
property tax rebate of $50,000 maximum
per year for 10 years and a forgivable loan
of $500 per job for the first 100 jobs. Pro-
duction employees would earn the county
average wage of $16.83 per hour.
Western Forest Products
buys U.S. lumber mill
for $9 million
Western Forest Products Inc. announced it will acquire Hampton
Lumber Mills-Washington Inc.’s
lumber processing and distribution
center in Arlington, Washington for
approximately $9 million. The sale
is expected to close in January 2018.
This will be the Canadian lumber
producer’s first U.S. operation. The
acquisition will also help “to mitigate”
the softwood duties assessed on company products sold into the U.S., said
Western CEO Don Demens.