Keokuk, IA – Roquette America is one of the world’s largest commodity processing companies with 12 major processing centers in Europe, China, Korea and the United States. In 2008, Roquette America evaluated global sites for expansion of its polyol manufacturing capabilities for the production of Mannitol, a sugar-alcohol ingredient used in food processing and pharmaceuticals.
New Markets Tax Credits helped to renovate and expand a plant in Keokuk (Iowa); an older grain receiving elevator with difficult river dock access, constrained truck and rail egress and an outdated drying center. Roquette America utilized financing for equipment, buildings, utilities, load-out, road development and engineering costs. The expansion preserved many jobs, creating 22 new full-time jobs, 450 indirect jobs, 427 indirect industrial jobs within the U.S., and preserving local market for grain. The expansion generated an estimated $262,212 in annual property taxes.
RDP’s Community Investment Program
Rural Development Partners (RDP) partnered with Roquette America in two different NMTC projects between 2008 and 2010. Under RDP’s Community Investment Program, RDP and Roquette America provided a matching funds grant of $450,000 toward workforce development and community initiatives.
$300,000 helped develop an Industrial Training Program, providing residents with educational opportunities to secure good jobs within local industry. $138,691 helped finance a flood wall, and $11,309 enabled the YMCA to provide cardio and strength training to encourage health and wellbeing.