(Milford)--The Iowa Economic Development Authority Board has approved tax credits for Rosenboom Machine and Tool’s expansion project in Milford.
Rosenboom is an Iowa-based advanced manufacturer of engineered hydraulic cylinders and precision-machined components serving original equipment manufacturers across construction, agriculture, military, energy, transportation and industrial markets. The company plans to acquire and build out a new facility in Milford, including building improvements and the relocation and installation of advanced machining equipment, material-handling systems and warehousing infrastructure.
The $19 million capital investment is expected to create 78 jobs incented at a qualifying wage of $25.54 per hour.
The board awarded more than $1.3 million in tax credits through the Business Incentives for Growth (BIG) program.
