By Katie Dahlstrom
Herald Staff Writer
Archer Daniels Midland Company hopes to expand some of its Clinton facilities using a portion of $78 million in bonds it is vying for from the Iowa Finance Authority.
ADM is looking for funds for the acquisition, construction, expansion and improvements to the wet corn mill, new warehouses and co-generation facilities.
ADM spokesperson Jackie Anderson said the projects will not bring additional staff to the facilities.
The company also plans to use some of the bonds for improvements and expansion to its Cedar Rapids and Des Moines facilities.
MDA bonds are tax exempt bonds designed to facilitate the economic recovery and rebuilding of areas damaged by severe weather. According to the IFA website, most businesses locating, expanding or improving facilities in Iowa can be considered replacing a business that suffered a loss as long as they are using the bonds in one of 78 counties, including Clinton County.
A public hearing will be Dec. 6 in Des Moines.