© CF Industries will add on to their Port Neal plant. It's a $1.7 billion dollar investment to expand their nitrogen fertilizer production.SIOUX CITY, Iowa (KTIV) -
You already know the facts. CF Industries will add on to their Port Neal plant. It's a $1.7 billion dollar investment to expand their nitrogen fertilizer production. With it comes a doubled work force, 100 new permanent jobs, with an estimated starting salary of more than $50,000.
Company officials say it's the perfect time to build.
"We have a business that is doing very well, and we have investment opportunities. We look for great projects to invest in," said Stephen Wilson, CF Industries Holdings CEO
CF says it's the second largest nitrogen fertilizer producer in the world, with seven manufacturing complexes in the U.S. and Canada. So why expand Woodbury County?
"Why here? We have an existing facility. We have a mature site at which we know we can operate, we have a skilled workforce nearby and we are right in the heart of the best fertilizer market in the world," said Wilson.
To help, Iowa awarded the company a large economic incentive package; $1.5 million in direct assistance and tax credits totaling $22 million. Officials say helping CF made sense, considering their reputation.
"CF already had a facility here, CF Industries is a very well financed company, and they've done very well. They were looking for new investment opportunities," said Iowa Economic Development Authority Director Debi Durham.
Port Neal isn't the only facility CF is adding on to. They also announced they'll expand operations at their Donaldsonville plant in Louisiana. That project is expected to cost $2.1 billion.
