Collins Aerospace Wants to Expand in Cedar Rapids, Add Product Line
The largest employer in Cedar Rapids has plans for an expansion as well as the addition of a new product line.
Collins Aerospace has revealed plans for a $22 million project in the city that would not only renovate an existing building but also add machinery, equipment, and additional jobs.
On Tuesday, the Cedar Rapids City Council approved $1.05 million in financial incentives for Collins Aerospace. This Friday, the Iowa Economic Development Authority will consider additional incentives, courtesy of the state. Any state incentives would be based on the state's high-quality jobs program.
That jobs program would require Collins Aerospace to keep 25 workers and add at least 16 more. They would all have to be paid a minimum of $25.20 per hour.
According to the Gazette, Collins Aerospace would renovate an existing building on its campus in northeast Cedar Rapids at a cost of $9.5 million. Machinery and equipment costs would be approximately $12.5 million, for a total cost of $22 million.
After the proposed project is completed, Collins Aerospace would add new jobs and utilize the building to make microchips. The Gazette reports that Cedar Rapids City Economic Development Manager Caleb Mason also said the renovated building would allow Collins Aerospace "future growth into adjacent commercial and defense markets."
If state incentives are approved, a development agreement between Collins Aerospace and the City of Cedar Rapids would follow. Preliminary plans call for construction to begin as early as next month and conclude in early 2026.