The Iowa Economic Development Authority approved on Friday to award a tax credit for a company to build its North American headquarters in Perry.

According to the IEDA, a $500,000 forgivable loan through its High Quality Jobs Program, and $300,000 tax credit with the Sales and Tax Use Refund was awarded to ADR Axles USA, which is based in Milan, Italy. IEDA says the manufacturing company that makes axles, braking systems and suspensions for agricultural and industrial equipment is planning to build a 54,000-square foot facility in the Perry Industrial Park. The proposal from ADR Axles says the building will include a fabrication and assembly area, along with a research and development department to create new product line development. 

The proposal from IEDA says ADR Axles is investing $14.6 million for the building and equipment and is projected to create 35 jobs, with 12 of those jobs that qualifies under the High Quality Jobs Program for an hourly wage of $31.10. 

The Perry City Council will consider a resolution at Monday night’s regular meeting for ADR Axles application to the IEDA and will be requesting a $800,000 tax increment financing rebate over ten years, as outlined in the city’s Urban Renewal Plan. Raccoon Valley Radio will bring you more information as it becomes official.