From KPTH Fox 44 News
Documents obtained by KPTH show a business prepared to move to Dakota City and provide 850 jobs. Land has recently been annexed, and this could be a major shot in the arm for the regions economy.
It's a story we've been researching for sometime and it provides at least some answers to rumors that have been swirling about a potential major employer moving to
Now KPTH have confirmed some details about this potential, and we stress potential only, new company.
According to Dakota City Manager Bob Peters the land annexed by Dakota City is about 220--to--230 acres. It's been annexed from two local families. Peters says they have signed a confidentiality agreement with at least one company forbidding them to say anything about a potential company relocating there.
Peters confirmed they've had discussions with a number of different companies.
However, minutes from the Dakota City Planning and Zoning Commission meeting held June 17th do reveal some information that, if it comes to pass, would provide a major employment boost to our hometowns. According to the minutes, the land is being purchased by Dakota City and given to the business as an enticement to locate here.
Now according to those minute: an interested business is ready to proceed with a potential $90 million dollar investment to employ 850 people with annual salary and wages of $25 million dollars by September of 2011.
Bonds will be sold by Americas financial to finance the venture.
The business would reimburse the city for the land through taxes.
Peters was not at liberty to discuss anything about the company or companies they have signed confidentiality agreements. But to recap, the land has been annexed and according to documents, up to 850 new jobs could be on the way to Dakota City within the next year or so.