IP Breaks Ground (CONT’D FROM PAGE 1)
Core Competency
The project will retain 186 hourly and 54 salaries posi- tions. Seven new jobs will be created to operate the pack- age boilers. Another 100 construction jobs are anticipated to be created while the facility is built adjacent to the ex- isting plant. The Iowa Economic Development Authority board in January awarded state incentives under Iowa’s high-quali- ty jobs program — $800,000 in investment tax credits and a $400,200 in a sales, service and use tax refund. The Cedar Rapids City Council also awarded the proj- ect city incentives — a 10-year, declining scale exemption of the increased value the project generates. Based on the proposed investment, the city estimates the project will generate $2.337 million in new taxes over a 10-year period, of which $961,000 will be exempt. Greenhouse gas emissions are slated to be reduced by 25 percent as a result of this project. The company’s emis- sions includes purchased steam and purchased utilities, Cleves said, so much of the reduction will be achieved by the switch to natural gas from coal-fired steam generation. Cleves said the company is committed to the Science Based Targets initiative — a worldwide effort to encourage corporate commitments to achieving net-zero carbon di- oxide emissions. International Paper is looking to reduce emissions by 35 percent companywide by 2030. Visit www.internationalpaper.com for more.
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