Principal plans $238.5M renovations in Des Moines

DES MOINES, Iowa (AP) — The Principal Financial Group plans to invest $238.5 million in renovations to its downtown Des Moines headquarters.

The Des Moines Register reports Principal's 10-year project could begin as soon as this summer. But the company wants to secure financial incentives from the city and possibly the state.

Principal senior vice president Ralph Eucher says the renovations remain only a proposal at this stage. The project hasn't been approved by Principal's board.

If the city approves, Principal could receive as much as $250,000 in incentives over 10 years.

The Des Moines City Council will discuss the project on Monday.

Principal employs more than 6,000 workers in the Des Moines area.
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