ECO LIPS, INC. ANNOUNCES EXPANSION PLANS IN CEDAR RAPIDS
Growing Demand Offers Increased Opportunity
CEDAR RAPIDS – Eco Lips, Inc. a manufacturer and distributor of nationally recognized lip products, announces plans to purchase an existing facility in Cedar Rapids for a $5.6 million business expansion development.
The new facility is located at 6000 Huntington Ct. NE in Cedar Rapids offers 87,000 square feet and will more than double the manufacturing and warehouse space to accommodate the company’s growth and expansion. The project will create 13 jobs incented at a qualifying wage of $23.20 per hour, as well as numerous job opportunities paying a minimum $15.00 per hour. Earlier today, the Iowa Economic Development Authority board awarded tax benefits through the High Quality Jobs (HQJ) program.
Founded in 2003, Eco Lips, Inc.’s products under the Eco Lips label, can be found in over 10,000 retail locations and through e-commerce platforms. The brand offers USDA Organic, Fair Trade Certified and Non-GMO products. The company also offers full-service manufacturing for private label and contract manufacturing customers with turn-key packaging and fulfillment solutions.
“Eco Lips requires this expansion to best serve our growing customer base. The new facility will also provide for increased efficiency and being centrally located will help attract and retain high-quality employees,” said Glen Jasper, President of Eco Lips, Inc.
The City of Cedar Rapids recently reviewed the project and provided a resolution of support to sponsor the state financial assistance application, which was reviewed earlier today by the Iowa Economic Development Authority Board. State financial assistance is primarily in the form of state tax credits. The Cedar Rapids Metro Economic Alliance assisted in preparation of the state application that was sent to the Iowa Economic Development Authority earlier this month.
“It is a pleasure to facilitate expansion projects for our members,” said Mike Lukan, Local Business Project Specialist, Cedar Rapids Metro Economic Alliance. “We’re pleased to be a small part of Eco Lip’s impressive growth.”
Purchase of the new building will be complete in January 2021. Renovation plans will begin in late January 2021 with an anticipated completion date of April 2021.