PDM Precast plans $10 million expansion in Des Moines

PDM Precast will launch a $10 million expansion on Des Moines' southeast side next spring, Matt McAllister, the company's chief administrative officer, told Axios this week.

Why it matters: It's another indication that Des Moines' "economic revitalization and goods movement" is on the right path.

• The site at 3312 E. Granger Ave. is next to the planned expansion of the Southeast Connector. It's also near a $25 million transloading project that's underway.

Driving the news: Des Moines this week approved preliminary terms for PDM's expansion, including a nearly 30,000-square-foot production building and an 11,000-square-foot warehouse.

• A $275,000 tax incentive for the project is estimated to generate more than $6 million in additional tax revenue over the next 30 years, according to city documents.

Background: PDM produces precast concrete and steel products. It makes many of the wall panels for Midwest data centers that have been popping up in recent years.

• The company employs 170 people, with plans to hire 20 more after the expansion.

What's ahead: Design and financial review plans will be finalized in coming months.

• McAllister said the project is slated to complete by late summer of 2022.