VGM plans $20M expansion

Tuesday, April 28, 2015

WATERLOO, Iowa – The VGM Group this week secured an incentive package from the town of Waterloo for a $20-million expansion of its national headquarters, the Waterloo-Cedar Falls Courier reports. City Council members voted 5-0 on Monday to provide up to a $750,000 grant to buy land for the 73,000-square-foot, four-story addition on the south side of the current building. The town has also agreed to provide 75% property tax rebates for 10 years and complete a road extension costing an estimated $185,000, according to the newspaper. The addition is designed to house up to 275 employees, primarily to accommodate growth in VGM’s Homelink division, President Jim Walsh told the newspaper.