Danish investment in Cedar Rapids, Iowa

March 20, 2008 (Des Moines, Iowa) - Hamlet Protein, a Danish bioprocessing company, is proposing to build a 30,000 sq. ft. plant and warehouse to produce animal nutrition products in Cedar Rapids. The Economic Development Board awarded the project $75,000 from the Value-Added Agricultural Products and Processes Financial Assistance Program (VAAPFAP) to proceed with the $17 million capital investment. Hamlet is expected to create 29 jobs paying an average wage of $24.03 per hour.  Enterprise Zone tax benefits were also announced. Construction would begin later this year and the plant would be operational in 2009. Hamlet’s products will be exported to Central and South America, Canada and Asia, as well as sold for animal feed in Iowa.