Iowa Economic Development Authority AgendaPacket Due Diligence Committee Meeting 2026-06-19
Cargill Seeks Settlement and Termination of Fort Dodge HQJP Contract
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Description
IEDA staff proposed approval of Cargill, Incorporated’s request to amend its Fort Dodge High Quality Jobs Program contract by eliminating the Investment Tax Credit, capping benefits at a $367,500 Sales Tax Refund, and terminating the agreement once claimed credits are repaid. The action adjusts a 2022 award tied to more than $84 million in project spending.
Contract Details
Contract Amount
Award reduced to Sales Tax Refund of $367,500 (from original estimated $700,000 tax credit benefits); repayment of Investment Tax Credits claimed to date
Vendor
CARGILL INCORPORATED
Agency
Iowa Arts Council, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 19, 2026
Contract Term
Award Date February 18, 2022; Project Completion Date February 28, 2025; Project Maintenance Date February 28, 2027
Renewal Date
2027-02-28
Renewal Info
Negotiated settlement converts the award to sales tax refund only, requires repayment of any Investment Tax Credits claimed, and terminates the contract upon repayment; no further extensions or renewals.
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