The Iowa Economic Development Authority Board (IEDAB) is meeting in mid-January 2015 to decide whether to provide a tax credit to the metals recycling company Alter Trading Corp., headquartered in St. Louis. Alter is considering expanding its scrap metal sorting operations in Davenport, Iowa.
The company is seeking a tax credit of $160,000, which will go toward the $6.7 million shredded metals sorting facility.
According to a spokeswoman for the IEDAB, the proposed facility will be different from Alter Trading’s other scrap metal facilities in Iowa in that it will further refine the shredded scrap produced at other shredder yards currently operated by Alter.
As part of its application, Alter says it will add a total of 13 jobs, four of which hinge on the tax credit.