Deere and Company has announced it will invest to modernize its foundry in Waterloo, Iowa. The project is estimated to cost about $100 million.
The company has numerous manufacturing facilities in the same area including its Waterloo Works tractor facility and the factory where the company builds its engines.
The announcement was made in conjunction with the Iowa Department of Economic Development, that provided tax incentives to Deere to retain the Waterloo Foundry jobs in Iowa. The modernization project will stretch over the next four to five years.
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