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Iowa Awards $7.5 Million in Incentives to Monsanto for Plant

By Becky Ogann

Story Created: May 16, 2008 at 11:38 AM CST

Story Updated: May 16, 2008 at 11:38 AM CST

CEDAR RAPIDS (AP) - Iowa has awarded $7.5 million in incentives to Monsanto for a new seed corn plant in Independence.

The St. Louis-based company plans to invest more than $90 million in the plant. It will employ about 50 people and offer 700 seasonal jobs.

The plant is slated to open in 2010.

The state also awarded $2.5 million in tax credits to Monsanto to create 25 jobs at a molecular breeding center in Ankeny.

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