DES MOINES, Iowa -- The Iowa Economic Development Authority (IEDA) Board approved tax credits for six manufacturing companies, which will assist in the creation of 346 jobs and result in nearly $246.5 million in new capital investment for the state. These projects are located in Altoona, Ankeny, Bondurant, Centerville, Davenport and Woodbine. The board also approved assistance for two startups in Ankeny and Des Moines. In addition, a project in Des Moines received a Destination Iowa grant, and projects in Jewell and West Point received Community Attraction and Tourism (CAT) grants.

Pratt (4.0 Corrugating), LLC, a subsidiary of Pratt Corrugated Holdings, Inc., is part of Atlanta-based Pratt Industries, Inc., one of the largest privately held paper and packaging companies in the United States.

Pratt plans to establish its first Iowa manufacturing facility in Bondurant to produce corrugated packaging and other corrugated products.

The project includes more than $80 million in manufacturing equipment and is expected to create 105 jobs, with 20 incented at a qualifying wage of $35.11 per hour.

The $97.6 million capital investment is also expected to increase the company's use of Iowa suppliers. The board awarded $1.8 million in tax credits through the BIG program.