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Sub-Zero Cedar Rapids Expansion Earns $9.8M BIG Award
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Description
The Iowa Economic Development Authority approved a BIG program tax credit award totaling $9,813,850 for Sub-Zero Group, Inc. to support a $196.3 million expansion of its Cedar Rapids facility, adding refrigerator assembly and injection molding operations. The contract runs through May 31, 2036 and supports 115 qualified jobs and significant new manufacturing capacity.
Contract Details
Contract Amount
$9,813,850 (tax credits: $7,713,850 Investment Tax Credit; $2,100,000 Sales and Use Tax Refund)
Vendor
SUB-ZERO GROUP INC
Agency
Iowa Arts Council, IA
Contract Type
FINANCIAL_SERVICES
Document Date
May 15, 2026
Contract Term
Project award date May 15, 2026; investment completion by May 31, 2029; contract end date May 31, 2036
Renewal Date
2036-05-31
Renewal Info
BIG contract with performance and maintenance through May 31, 2036; complements an existing HQJP tax credit contract (22-HQJP-039) in Cedar Rapids currently in performance.
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