FINANCIAL_SERVICESAMENDED

Iowa Economic Development Authority AgendaPacket Due Diligence Committee Meeting 2026-06-19

Worley Warehousing Requests Mutual Termination of HQJP Contract

$520,000 Estimated Tax Credit Benefits (no incentives claimed)Iowa Arts CouncilWORLEY WAREHOUSING INCJune 19, 2026

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Description

Worley Warehousing, Inc. requested mutual termination of its Cedar Rapids High Quality Jobs Program contract, which authorized up to $520,000 in tax credit benefits but never resulted in claimed incentives. The company met its job obligations but now seeks to end the agreement early.

Contract Details

Contract Amount

$520,000 Estimated Tax Credit Benefits (no incentives claimed)

Vendor

WORLEY WAREHOUSING INC

Agency

Iowa Arts Council, IA

Contract Type

FINANCIAL_SERVICES

Document Date

June 19, 2026

Contract Term

Award Date November 22, 2019; Project Completion Date November 30, 2024; Project Maintenance Date November 30, 2026

Renewal Date

2026-11-30

Renewal Info

Contract had previously been amended with a 24‑month extension of the Project Completion Date; current action would mutually terminate the agreement with no incentives paid.