Tax breaks, family ties keep Sioux City business from leaving - KTIV News 4 Sioux City IA: News, Weather and Sports

Another old Sioux City building is getting a new lease on life thanks to the expansion plans of a local company.       

Tec-Corp, formerly Thompson Electric and Electric Innovations, plans to renovate the Standard Oil building on 7th Street.           

Built in 1936, it's served as a warehouse in recent years.  As part of their expansion, Tec-Corp will add a training room and a dozen jobs.

With 250 employees in Iowa, South Dakota, and Nebraska, the company looked at moving their headquarters out of Sioux City, but the Targeted Jobs tax credit program provided enough incentive to stay.

"It's a big help.  It's a huge help.  Clearly, there are some tax incentives to go across the river.  For, both the company and our employees, but this is my home.  I would love to make this work here," said Tec-Corp CEO Skip Perley.

Perley said the move from the building they lease on 14th Street will make it easier for truck traffic to get in and out.

They hope to move in early next year.