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JULY 2012

15

Economic Development News Economic Alliance Coordinates Corporate Visit to Retain/Create Jobs

Master Packing and Rubber Expansion Underway

A Cedar Rapids contingent recently traveled to the corporate offices of a company with a Cedar Rapids operation to discuss job retention and the possiblity of the company adding 93 jobs in the Creative Corridor.

Construction to expand Master Packing and Rubber Company in Cedar Rapids is underway, adding more than 7,300 square feet to its existing building and creating four new jobs.

Economic Alliance President & CEO Dee Baird, along with Dennis Jordan of the Economic Alliance, Cedar Rapids Mayor Ron Corbett, City Manager Jeff Pomeranz and Kim Johnson, vice president, Continuing Education and Training Services at Kirkwood Community College, traveled to the corporate office June 13.

Master Packing and Rubber Company, 6430 Fourth St. SW, began construction on the $700,000 expansion earlier this month. The company, founded in 1982, manufactures seals and gaskets for a variety of industries, including food processing, pharmaceuticals, refineries, chemical plants, pump and valve manufacturers, locomotive manufacturers, power plants, water treatment plants, and railroad and marine engines

The meeting was an effort to retain 71 existing jobs and add another 93 jobs over the next several years. The company is considering other site locations for this operation, including its corporate headquarter location. During the visit, the Cedar Rapids group met with several senior level executives and provided a presentation on the community/region. The company is expected to make a visit to the Cedar Rapids area in the next few weeks and will make a company decision in the next 60-90 days. One of the Economic Alliance’s core functions is economic development and staff will continue to maintain and advance the relationship with this key Cedar Rapids company.

The Cedar Rapids Metro Economic Alliance assisted Master Packing and Rubber Company by evaluating financial assistance options, including an Industrial Property Tax Exemption. Dee Baird, president and CEO of the Economic Alliance, said supporting projects involving small and locally-owned business is critical for growth in Iowa’s Creative Corridor. Robb and Rick Ridgway, the company’s principle owners, said the expansion was prompted by increasing sales and the development of specialty products for specific applications. For more on MPRC visit MPRCSEALS.com.

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Cedar Rapids Metro Economic Alliance Report July 2012  

The Economic Alliance Report is the monthly newsletter for the Cedar Rapids Metro Economic Alliance. The monthly report features regional ne...

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