Deere & Co. Modernizing Iowa Foundry

Deere & Co., based in Moline, Ill., has announced plans to invest around $100 million to modernize its Waterloo, Iowa, foundry. The modernization will take place over the next 4-5 years and will allow the company to leverage more advanced casting designs and manufacturing technologies when completed.

"The enhancement of our foundry operations follows recent investments in the Waterloo Works to improve manufacturing capacity and flexibility. This integrated approach at John Deere in the design and manufacturing of large row crop and four-wheeled-drive tractors is a competitive advantage," says David Everitt, president, Worldwide Agriculture & Turf Division – North America, Asia, Australia, Sub-Saharan and South Africa, and Global Tractor and Turf Products.

The announcement follows the $125 million Waterloo Works redevelopment plan Deere announced in 2000 that streamlined both its drive-train and tractor manufacturing operations and the $187 million in investments Deere announced in 2008 to increase the manufacturing capacity of the Waterloo Works.

The Iowa Department of Economic Development approved a proposal to provide tax incentives to Deere to retain the Waterloo foundry jobs in Iowa.