The Iowa Economic Development Authority (IEDA) Board has awarded project tax benefits to support the expansion of M.H. Eby, Inc.’s Story City facility.
The company plans to expand their Story City facility by an additional 100,000 square feet to support the growth of its business. The project is MH Eby’s second expansion in the Story City Business Park following a project, opened last year, that added manufacturing capabilities for livestock and semi-trailers.
This latest expansion calls for a $15.4 million capital investment and is expected to create 120 jobs, of which 13 are incented at a qualifying wage of $30.07 per hour, according to IEDA.
The IEDA High Quality Jobs (HQJ) program provides qualifying businesses assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program includes loans, forgivable loans, tax credits, exemptions and/or refunds.
Founded in 1938, M.H. Eby Inc. is a third-generation family business thay has evolved into an industry-leading manufacturer of aluminum truck bodies, livestock haulers, and bulk commodity trailers.