Hydrite Chemical Receives State of Iowa Incentives for Waterloo Expansion
The City of Waterloo is pleased to announce that Hydrite Chemical was awarded tax benefits to help expand its Waterloo facility which manufacturers and distributes chemical products in the U.S. Hydrite also plans to expand the transportation fleet and warehouse space. The project represents a $21 million capital investment over the next 3 years and is expected to create 20 jobs at a qualifying wage of $20 an hour.
Grow Cedar Valley worked with Hydrite to make application to the Iowa Economic Development Authority (IEDA) Board for the High Quality Jobs tax credit program. The IEDA board announced awarded of the tax benefits on February 18, 2022. Additional incentives came from the City. Hawkeye Community College will provide job training.
“Hydrite has found success in Waterloo completing multiple expansions at their location over the years, most recently in 2017,” says Noel Anderson, Community Planning and Development Director. “We are especially pleased to bring these additional good paying jobs to Waterloo.”
Established in 1929 and headquartered in Brookfield, Wisconsin, Hydrite Chemical Co. is one of the largest manufacturers and distributors of chemical products in the U.S. They also plan to expand the transportation fleet and warehouse space. The expansion will bring the workforce total to 158 employees at the Waterloo location. The Waterloo site is the company’s only Iowa location and is Hydrite’s largest facility.
For more information about the Hydrite Chemical expansion or economic development opportunities in Waterloo, contact Noel Anderson, Community Planning and Development Director, by calling 319-291-4366 or by email to Noel.Anderson@Waterloo-IA.org.