Accumold Expands in Ankeny
Ankeny City Council Approves Development Agreement
The Ankeny City Council has greenlit a development agreement with Accumold, facilitating the expansion of their facility. This expansion will see the construction of a 50,000-square-foot addition to their campus located at 1711 SE Oralabor Road.
Meeting Growing Demand
Accumold specializes in manufacturing small plastic parts for various industries, including medical, microelectronics, and optics. According to company officials, this expansion—marking their second since the original facility was built in 2000—is essential to meet the rising demand for their products.
Project Details
- Collaboration: The company is partnering with Weitz Co. and SVPA Architects for the $33.2 million expansion.
- Tax Incentives: The approved development agreement includes seven years of Tax Increment Finance (TIF) rebates on the increased property valuation. These payments will not exceed $910,000 and will start in the second year post-completion.
- Valuation Increase: It is estimated that the expansion will raise the taxable value of the property by approximately $8.1 million.
Community Impact
The city council voted 5–0 in favor of the agreement, which follows approval from the Iowa Economic Development Authority, granting over $1.08 million in tax incentives from the Business Incentives for Growth Program. This project is expected to create 150 jobs, with more than 100 of those being filled within the first three years.
A groundbreaking ceremony is scheduled for 10:30 a.m. today, marking a significant step forward for Accumold and the Ankeny community.
