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With its $240 million fertilizer gamble in peril, Iowa should give up on giveaways
A quarter billion dollars just doesn’t go as far as you’d think. The most favorable package of tax and other incentives in Iowa history helped get an Egyptian company, Orascom, to agree in 2012 to build a gigantic nitrogen fertilizer production plant in Lee County. (The tally was about $240 million of state and local investment, going up to $550 million when including federal incentives, much of which were meant for flood recovery.) Part of the sales...
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