2008 Allocation: $25,000,000
Roquette America is the largest employer in Keokuk, the third largest employer in Lee County and top corporate taxpayer in the county. This polyol manufacturer produces mannitol used as a sugar-alcohol ingredient for food processing, pharmaceuticals and other. With limited land available for expansion, an outdated grain receiving elevator, difficult river dock access, constrained truck and rail egress, and an outdated drying center, NMTCs were used to expand and upgrade the facility. Tranche I NMTCs were used to finance equipment, buildings, utilities, load-out, road development and engineering costs of the plant. 22 quality jobs were created, inducing an estimated 450 indirect jobs for 427 other industries in the United States.
2010 Allocation: $20,000,000
The Keokuk facility had an older corn wet-mill plant upgraded over time as finances allowed. Revamping this facility was critically important for Roquette to remain competitive in the global market it serves and to remain in compliance with environmental regulations. The second tranche of NMTCs was used to finance a new drying center which enabled the company to continue purchasing grain locally instead of shipping in dry by-products. Roquette’s products are primarily carbohydrate derivatives which are used as a food ingredient, pharmaceuticals, paper, fermentation, and various other industrial sectors including 115 various industrial applications ranging from batteries, metal castings, finished aluminum, pills, paper goods, leather goods, and concrete additives. 400 jobs were retained, and cleaner air emissions resulted from this phase of the project.