Associated Press | Deere & Co. has announced it will invest
about $100 million to modernize the John Deere Foundry in Waterloo,
Iowa. According to Deere, the modernization work will take place over
the next 4 to 5 years. The project will allow the heavy equipment maker
to improve manufacturing capacity and flexibility.

According to Deere executive David Everitt, the integrated approach in the design and manufacturing of large row crop and four-wheeled-drive tractors gives the company a competitive advantage.

Wednesday’s announcement by Moline, Ill.-based Deere was made in conjunction with the Iowa Department of Economic Development. The department agreed to provide tax incentives to Deere to retain the Waterloo Foundry jobs in Iowa.