November 20, 2012

Dupont may invest US$50 million to expand headquarter in Iowa

DuPont Pioneer proposes investing US$50.4 million in new office, lab and greenhouse space in Johnston, Iowa.

The Iowa Economic Development Authority Board will consider awarding state tax credits to DuPont Pioneer and two other companies today. Pioneer seeks up to US$4.4 million in tax credits, based on capital investment and high-quality job creation. Local economic development leaders say the newest project is expected to create 100 jobs that pay an average of US$87,693 annually.

"Our success in farmers' fields has led to more jobs in our Iowa labs and around the world," said Jane Slusark, a Pioneer spokeswoman. "We continue to see agriculture as a bright spot in today's economy."

DuPont Pioneer, with about one-third of the North American corn and soy seed market, is in an intense battle with seed giants such as Monsanto and Syngenta in a never-ending struggle to increase market share. Farmers want higher yields to fulfil growing global demand for food, livestock feed and ethanol.

It has invested heavily in research. In January, the company opened a US$40 million research facility at its Johnston campus and hired about 400 scientists. The company also is investing US$32 million to remodel and double the size of existing research greenhouse facilities and add an insectary. That project, now under construction, will add more than 100 jobs.

With its latest proposal, Pioneer would invest US$13 million in construction and equipment, spend US$9.4 million to lease space, and invest an estimated US$28 million on research and development, documents to the state economic development agency show. Pioneer expects to lease 180,000 square feet of new office and lab space and build 39,000 square feet of greenhouse space.