On Friday the Iowa Economic Development Authority board awarded direct financial assistance and tax benefits to 3M in Knoxville for their expansion project.

3M’s Knoxville location is planning to install additional manufacturing capacity to produce and convert tapes and adhesives. The scope includes a building addition, equipment procurement and installation. The board awarded 3M $220,000 in direct financial assistance, as well as tax benefits from the High Quality Jobs program for the project. The $32 million investment is expected to create 30 jobs and retain 21 jobs at a wage of $20.76 per hour.