IOWA CITY, Iowa - A Missouri manufacturer of ductile iron castings for the wind turbine industry plans to build its first North American foundry.
Nadicom (North American Ductile Iron Foundry) of Fulton, Mo., on Wednesday said it will build an $85 million casting facility that will employ 175. The foundry will be located at the intersection of Taft Ave SE and 420th St. SE in Iowa City's Wind Energy Supply Chain Campus east of the Scott Six business park.
The Nadicom facility will have the capacity to cast and machine large castings with an initial focus on the wind turbine market.
Nadicom Chief Executive Officer Prasad Karunakaran said several factors were considered when choosing Iowa City for the plant, which is expected to begin operation in 2013 pending local and state approvals.
"We plan to build this operation from the ground up and wanted a location that would allow us to leverage our location to maximize productivity," Karunakaran said. "This Iowa City site provided a central location, complete with rail and other logistical considerations, and access to a world-class work force."
Karunakaran said utility rates from MidAmerican Energy were very competitive and acknowledged that the state's 260E job training program with Kirkwood Community College will help bring the latest technologies and methodologies into practice to boost efficiencies.
Joe Raso, president of the Iowa City Area Development Group, said ICAD and the Iowa Department of Economic Development have been in discussions with Nadicom since August 2010.
"We are working with the City of Iowa City to help Nadicom develop their site plan in the city's Wind Energy Supply Chain Campus near the Scott Six business park," Raso said.
The 173-acre "shovel-ready" industrial park is being marketed mainly to companies that supply components to the wind power industry. Iowa's wind energy industry supply chain involves more than 80 businesses, including 23 in the Cedar Rapids-Iowa City Corridor.
Nadicom made its announcement at the annual Iowa Wind Energy Association conference in Des Moines.