Iowa Economic Development Authority (IEDA) Application - Hirschbach Copyright 2014
City of Dubuque Action Items # 3.
ITEM TITLE: Iowa Economic Development Authority (I EDA) Application - Hirschbach
Motor Lines, Inc.
SUMMARY: City Manager recommending approval of the submission of an Iowa
Economic Development Assistance Contract by Hirschbach Motor Lines,
Inc. to the Iowa Economic Development Authority.
RESOLUTION Authorizing the filing of an application for state business
financial assistance on behalf of Hirschbach Motors Lines, Inc.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s)
ATTACHMENTS:
Description Type
❑ Hirschbach Motor Lines-1 EDA Application-MVM Memo City Manager Memo
❑ Staff Memo Staff Memo
❑ Application Supporting Documentation
❑ Section E of Application Supporting Documentation
❑ Resolution Supporting Documentation
THE CITY OF Dubuque
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: State of Iowa Business Financial Assistance Application for Hirschbach
Motor Lines, Inc.
DATE: January 26, 2015
Hirschbach Motors Lines, Inc., currently headquartered in East Dubuque, Illinois, is an
over-the-road truckload refrigerated trucking company. The company is proposing a
$7.7 million, forty-five thousand square foot redevelopment in the Historic Millwork
District to house the executives, operations and administrative personnel for
Hirschbach. The rest of the Hirschbach operations would remain in East Dubuque. The
company plans to bring 99 full time jobs to Dubuque within three years of the
completion of construction.
Economic Development Director Maurice Jones recommends City Council approval of
the submission of an Iowa Economic Development Assistance Application by
Hirschbach Motor Lines, Inc. to the Iowa Economic Development Authority. The local
match for the project is proposed to be a 10-year Tax Increment Financing property tax
rebate valued at approximately $545,055.
1 concur with the recommendation and respectfully request Mayor and City Council
approval.
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Maurice Jones, Economic Development Director
Dubuque Economic Development Department
THE CITY OF 50 West 13th Street
All-America City Dubuque,Iowa 52001-4864
D U B3 E1 ' Office(563)589-4393
TTY(563)690-6678
° http://www.cityofdubuque.org
Masterpiece on the Mississippi 200.2012.2013
TO: Michael Van Milligen, City Manager
FROM: Maurice Jones, Economic Development Director
SUBJECT: State of Iowa Business Financial Assistance Application for Hirschbach
Motor Lines, Inc.
DATE: January 22, 2015
INTRODUCTION
This memorandum presents for City Council review and approval a resolution
authorizing the submission of an Iowa Economic Development Assistance Application
by Hirschbach Motor Lines, Inc. to the Iowa Economic Development Authority (IEDA).
BACKGROUND
Hirschbach Motors Lines, Inc., currently headquartered in East Dubuque, Illinois, is an
over-the-road, truckload refrigerated trucking company. The company is proposing a
forty-five thousand square foot (45,000) redevelopment of Lot 1 of City Lot 417A and
City Lot 418 & 419 which are located at 220 East 9th Street in the Historic Millwork
District as an office for the company. This office will house the executives, operations
and administrative personnel for Hirschbach. The company plans to create ninety-nine
(99) full time jobs within three years of the completion of construction.
DISCUSSION
The company plans to invest $7,700,000.00 to redevelop the property in the Millwork
District into its new headquarters facility, and will bring 99 new jobs to Dubuque. As part
of its financial investment in the project, Hirschbach has applied to the Iowa Economic
Development Authority for assistance in the form of grants, loans and tax credits.
The company is eligible for $830,278 in actual training fund reimbursement for the 99
jobs. The company is also requesting direct financial assistance of $500,000 and
$150,000 in Sales Tax Refunds from the IEDA. The incentives are offered through the
State's High Quality Jobs Program. The local match for the project is proposed to be a
10-year Tax Increment Financing property tax rebate valued at approximately $545,055.
RECOMMENDATION
I recommend that the City Council approve the Economic Development Assistance
Application on behalf of Hirschbach Motors Lines, Inc. for the proposed investment of
$7.7 Million for the location of a new headquarters office facility in Dubuque. The
proposed project would add 99 jobs and promote the City's goal of attracting new
business to add to the economic base.
ACTION STEP
The action step for the City Council is to adopt the attached resolution.
Prepared by: Jill Connors, Economic Development, 50 W. 13th Street, Dubuque IA 52001, 563 589-4393
Return to: Jill Connors, Economic Development, 50 W. 13th Street, Dubuque IA 52001, 563 589-4393
RESOLUTION NO. 37-15
AUTHORIZING THE FILING OF AN APPLICATION FOR STATE BUSINESS FINANCIAL
ASSISTANCE ON BEHALF OF HIRSCHBACH MOTOR LINES, INC.
Whereas, Hirschbach Motor Lines, Inc. has proposed making a Seven Million Seven
Hundred Thousand Dollar ($7,700,000.00) investment for the redevelopment of a forty-five
thousand square foot (45,000 sq. ft.) office facility in the City of Dubuque, Iowa ; and
Whereas, the City Council of the City of Dubuque, Iowa has considered the proposal
and has determined that the proposed project will contribute to the local economy through
the creation of ninety-nine (99) full-time jobs in the City; and
Whereas, financial assistance from the Iowa Economic Development Authority is
designed to assist in the economic development efforts of local jurisdictions; and
Whereas, the City must provide local sponsorship on behalf of Hirschbach Motor Lines,
Inc. for its Business Financial Assistance Application with the Iowa Economic Development
Authority; and
Whereas, the Iowa Economic Development Authority has requested execution of an
Economic Development Assistance Contract in order to finalize incentives and document
associated terms for the construction of Hirschbach Motor Lines, Inc.'s headquarters in the
City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the filing of an Application for participation in the Iowa Economic
Development Authority's Financial Assistance Program on behalf of Hirschbach Motor
Lines, Inc., a copy of which is attached hereto, is hereby approved.
Section 2. That a ten (10) year tax increment financing (TIF) local match identified in the
Application may be provided to Hirschbach Motor Lines, Inc., subject to further action by
the City Council.
Section 3. That the Mayor is hereby authorized to execute and the City Manager is
hereby directed to submit the Application to the Iowa Economic Development Authority
together with such other documents as may be required.
Passed, approved, and adopted this 2nd day of February, 215.
Attest:
r- orierim
Kevin S. Firnstahl, City CleW
2
Roy E3uol, Mayor
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Debi V. Durham, Director
Iowa Economic Development Authority
Business Financial Assistance Application
Business Finance - Business Development Division
Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309-1819
www.iowaeconomicdevelopment.com
Telephone: 515.725.3134 Email: businessfinance(ciliowa.gov
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Application Instructions
To Complete Electronic Form: Click on TEXT BOX to add text. Double click on YES/NO boxes and select "Checked".
1. All applicants must complete the Business Financial Assistance Application and attach only those
additional sections for the components to which the applicant is applying.
STATE of IOWA— Financial Assistance Program
` High Quality Jobs Program (HQJP)
X Tax Credits
X Direct Financial Assistance
2. Before filling out this application form, please read all applicable sections of the Iowa Code and Iowa
Administrative Code (rules). www.legis.state.ia.us/lowaLaw.html
3. Only typed or computer-generated applications will be accepted and reviewed. Any material change to
the format, questions, or wording of questions presented in this application will render the application
invalid and it will not be accepted.
4. Complete the applicable sections of the application fully. If questions are left unanswered or required
attachments are not submitted, an explanation must be included.
i 5. Use clear and concise language. Attachments should only be used when requested or as supporting
I documentation.
6. Any inaccurate information of a significant nature may disqualify the application from consideration.
7. The following must be submitted to Business Finance at IEDA in order to initiate the review process:
• One original, signed application form and all required attachments
• One electronic copy of the application form and all required attachments
Facsimile copies will not be accepted.
Applications must be submitted to IEDA Business Finance before 4:00pm on the fourth Monday of the month.
Applications will be reviewed by the IEDA Board on the third Friday of the following month.
v 08 06 2014
Public Records Policies
During the application process, the information submitted by you to IEDA is exempt from disclosure under
the "industrial prospects' exemption found in Section 22.7(8). However, once you receive an award,the
industrial prospects exemption no longer applies and all documents submitted and generated during the
application and negotiation process become public records under Iowa's Open Records Law (Iowa Code,
Chapter 22), unless
1) The information belongs to one of the classes of records automatically treated as confidential; or
2) You have applied for and received written notice that your information will be treated as confidential.
Automatically Confidential Records
IEDA automatically treats the following records as confidential and will withhold them from public inspection
even without a request for confidential treatment:
• Tax Records and Tax Liability Information
• Quarterly Iowa Employer's Contribution and Payroll Report prepared for the Iowa Workforce
Development Department
• Payroll Registers
• Business Financial Statements and Projections (unless those statements are already publicly
available elsewhere, e.g., 10-K filings)
• Personal Financial Statements
Exemptions to the Open Records Law
If you wish to have additional information treated as confidential, you must fill out the confidential treatment
request form. Under the Open Records Law, IEDA may lawfully treat certain information as confidential if
that information falls within an exemption to the Open Records Law. The following exemptions represent
records which may lawfully be treated as confidential under the Open Records law and which are most often
applicable to the information submitted to IEDA:
Release of information would give an unfair advantage to competitors — Iowa Code Sec. 15.118
• Trade secrets — See Iowa Code section 22.7(3), see also Iowa Code Ch. 550
• Information on an industrial prospect with which the IEDA is currently negotiating — See Iowa
Code section 22.7(8)
f Communications not required by law, rule or regulation made to IEDA by persons outside the
government to the extent that IEDA could reasonably believe that those persons would be
discouraged from making them to IEDA if they were made available for general public
examination — Iowa Code section 22.7(18)
Non-Confidential Information
Information that is submitted to IEDA as part of the application process or that is contained in a contract for
program benefits is generally considered material to the eligibility requirements of the program or to the
amount of incentives or assistance to be provided. Such information is generally not given confidential
treatment. Such information includes but is not limited to, the number and type of jobs incented, the wage
levels for the incented jobs, your company's employee benefit information, and your project budget.
I
Additional Information Available. Copies of Iowa's Open Record law and IEDA's administrative rules
relating to public records are available from the IEDA upon request.
IEDA—Business Financial Assistance Application 2 v.08.06.2014
SECTION A
Applicant Information Date Application Submitted: 1-16-15
1. Name of Business: Hirschbach Motor Lines, Inc.
2. Entity Name (for contracting purposes): Hirschbach Motor Lines, Inc.
3. Address: 18355 US Highway 20
4. City, State &Zip Code: East Dubuque, IL 61025
5. Contact Person: Paul Herzog Title: CFO
6. Phone: 402-404-2213 Fax: 402-404-2413 Email: paul.herzog(a)hirschbach.com
7. FEIN: Hirschbach Motor Lines= 42-0883252
8. NAICS Code for primary business operations: 484121
9. US DOT Number: 065769
10. Does the Business file a consolidated tax return under a different tax ID number?
X Yes (If yes, please also provide that tax ID number) 42-0823978 ❑ No
a. Is the contact person listed above authorized to obligate the Business?
X Yes ❑No If no, please provide the name and title of a company officer authorized to
obligate the Business:
11. If the application was prepared by someone other than the contact person listed above, please
complete the following:
Name of Business:
Address:
City, State &Zip Code:
Contact Person: Title:
Phone: Fax: Email:
Sponsor Information (A sponsor organization Is a city or county)
12. Sponsor Organization: City of Dubuque
13. Official Contact(e.g. Mayor, Chairperson, etc.): Roy D Buol Title: Mayor
14. Address: 50 W 13`h Street
15. City, State &Zip Code: Dubuque, IA 52001
16. Phone: 563-589-4100 Fax: Email:
I 17. If IEDA needs to contact the sponsor organization with questions, should we contact the person
listed above?
Yes X No, please contact the following person:
Name: Greater Dubuque Development Corporation, Mark Seckman Title: VP of National Marketing
Address: 900 Jackson Street, Suite 109
City, State &Zip Code: Dubuque, IA 52001 Phone: 563-557-9049 Fax: Email:
m a rks(cD a re ate rd u bug u e.o rg
If necessary, please list information on additional sponsors in an attachment.
IEDA—Business Financial Assistance Application 3 v.08.06.2014
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SECTION B
Business Information
1. Provide a brief description and history of the Business. Include information about the Business'
III products or services and its markets and/or customers.
Truckload carrier providing temperature-controlled (reefer) transportation services throughout the continental US.
Our fleet is comprised of 600 tractors and 1,000 trailers. Our major customers include: Farmland Foods, Tyson Foods,
Nestles, JBS Swift and Walmart.
2. Business Structure:
❑ Cooperative X_ Corporation El Limited Liability Company
❑ Partnership ❑ S-Corporation ❑ Sole Proprietorship
3. State of Incorporation: Iowa
4. Identify the Business' owners and percent ownership: Tom Groiean Jr(50%) Brad Pinchuk (50%1
5. Does a woman, minority, or person with a disability own the Business? ❑ Yes X No
6. List the Business' Iowa locations and the most current number of employees at each location. Sioux City (10).
Waterloo (13)
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7. What is the Business' worldwide employment? (Please include employees of parent company, subsidiaries, and
other affiliated entities in this figure.) 413 employees and 350 owner-operators
Project Information
8. Project Street Address: 220 East gth Street (Kretschmer Manufacturing Building)
Project City&Zip Code: Dubuque 52001 Project County: Dubuque
9. Type of Business Project:
❑ Startup ❑ Expansion of Iowa Company X New Location in Iowa
10. Does the project site qualify as a "Brownfield" or"Grayfield" site? X Yes ❑ No
If yes, please explain and document as Attachment A6. (city of Dubuque will provide)
11. Describe the proposed project for which assistance is being sought. (Include project timeline with dates,
facility size, infrastructure improvements, proposed products/services, any new markets, etc.)
Purchase and renovation of the (45,000 square feet) Kretschmer Manufacturing Building in the historic Mill Work
District in downtown Dubuque. Project also includes the purchase of office furniture and fixtures and relocation
expenses. This office will house the executive, operations and administrative personnel for Hirschbach. Anticipate the
project's inception in November 2014 and completion in the Summer of 2016.
12.
Project Timeline add additional rows as needed Beginning Activity Date Activity Completion Date
Detailed drawings prepared 4-1-2015 5-31-2015
Bid-out construction contracts 6-1-2015 6-30-2015
Purchase property 5-1-2015 5-31-2015
Contruction (remodeling) 7-1-2015 6-30-2016
j Install offices and relocate 7-1-2016 7-31-2016
13. Has any part of the project started"? ❑ Yes X No
If yes, please explain.
•For IEDA's purposes,starting the project includes:the start of construction or rehabilitation,the purchase of a building, the execution of a lease,or
the installation of equipment to be used in the project.
14. Identify the Business' competitors. If any of these competitors have Iowa locations, please explain the nature of
the competition (e.g. competitive business segment, estimated market share, etc.) and explain what impact the
proposed project may have on the Iowa competitor. Hirschbach Motor Lines is an over-the-road, truckload,
refrigerated trucking company. Our significant Iowa based competitors include Decker Truck Line. Inc. (Fort
IEDA—Business Financial Assistance Application 4 v.08.06.2014
Dodge) Schuster Company (in Le mars) and Van Wyk Freight Lines Inc (in Grinnell) There will be no impact on
our competitors as a result of this project.
15. Will any of the current Iowa employees lose their jobs if this project does not proceed?
I ❑ Yes X No
If yes, please explain why and identify those jobs as "retained jobs" in the Project Jobs Section E.
16. Is the Business actively considering locations outside of Iowa? X Yes ❑ No
If yes,where and what assistance is being offered? Current leased facility in East Dubuque L. Incentives have
1 been proposed by local and State governments.
17. Please identify the company project management for the project location and experience. Brad Pinchuk
(President and 50% shareholder) is the project manager. Brad has been with Hirschbach Motor Lines for 15 years
l and has over 20 years of experience in the industry.
SECTION C
Applicant's Project Budget
1. Does the Business plan to lease the facility? ❑ Yes X No
If yes, please provide the Annual Base Rent Payment(lease payment minus property taxes, insurance, and
operating/maintenance expenses) for three years in the budget below, and only major renovation costs your
company expects to incur. Administrative rules require that the lease be in place for a minimum of five years.
2. Please complete the budget below. Include only costs the company plans to incur directly:
Use of Funds Cost Source A Source B Source C Source D Source E Source F
Base Rent 3 ears
Tenant Improvements
Land Acquisition
Site Preparation
Building Acquisition $800,000 $800,000
Building Construction
Building Remodeling $7,700,000 $7,700,000
Mfg. Machinery & Equip.
Other Machine & E ui P.
Rackin , Shelving, etc.
Computer Hardware
Computer Software
Furniture & Fixtures $500,000 $500,000
Working Capital
Research & Development
Other
TOTAL $9,000,000 $500,000 $ $ $ $ $8,500,000
Racking,shelving and conveyor equipment used in distribution center projects only
3. Please complete the chart below with proposed financing for the project(tax benefits should be reflected as indirect
financing under#5 below):
PROPOSED FINANCING
Source of Funds Form of Funds Conditions/Additional
Information
Amount (Loan,Grant, In- Rate and Term Commitm Include when funds will be
Add additional lines as needed Kind, Donation,etc.) ant Status disbursed; If loan,whether
payments are a level term,
balloon,etc
Source A: IEDA see#4 below $500,000 FUL 0%5-yrs Pending
Source B: Local Government $
Source C: Business $
i Source D: Other Source $
Source E: Other Source $
Source F: Bank $8,500,000 Loan 4%amortized
over 20 years
IEDA—Business Financial Assistance Application 5 v.08.06.2014
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TOTAL $9,000,000
4. Direct financial assistance(loans/forgivable loans) must be secured with acceptable collateral. Please
select the type of collateral your company will pledge to secure the IEDA financing, and document its value
in Attachment A5.
Explain:
No collateral,funding disbursed at the end of the 5-year contract ❑
Irrevocable letter of credit X Issue by Wells Faro NA
Dedicated certificate of deposit CD ❑
Surety bond ❑
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Mortgage on real estate ❑
Corporate guaranty ❑
Personal guarantee ❑
*The IEDA Board has the final discretion on what collateral will be accepted.
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5. Please complete the chart below with tax credits and other indirect financing expected for the orojact:
TAX CREDITS AND INDIRECT FINANCING
Source of Funds Amount Description
Investment Tax Credit
Sales, Service 8 Use Tax Refund $150,000 HQJP
Research Activities Credit 3%/10%
Local Property Tax Exemption
Tax Increment Financing $545,055 City of Dubuque 10- ear TIF rebate
260E Job Training Funds $830,278 North Iowa Community College
In-kind Contribution
Other
TOTAL $1,525,333
6. There are three justifiable reasons for providing assistance. Check the box next to the reason why
I assistance is needed to complete this project.
X Financing Gap-A gap exists between the financing required and the financing on-hand and the provision of
tax incentives or assistance is necessary to fill the gap.
❑ Rate of Return Gap—The likely returns of the project are inadequate to motivate a company decision maker to
proceed with the project even if sufficient debt or equity can be raised to finance the project, and the project's risks
'I outweigh its rewards, making the provision of tax incentives or assistance necessary to reduce the project's risks.
❑ Location Disadvantage (Incentive)—The business is deciding between a site in Iowa ("Iowa site")and a site
in another state ("out-of-state site') for its project and the cost of completing the project at the out-of-state site is
demonstrably lower, making tax incentives or assistance necessary to equalize the cost differential between the
two sites. Note: The authority will attempt to quantify the cost differential between the sites.
ill 7. Please provide a brief explanation of the need for assistance.
State assistance is required to address a financing gap.
SECTION D
Employee Benefits
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There are three options to meeting the sufficient benefit requirement. These options are detailed in the chart
below. Please complete questions 1-3. If your company meets Option 1 or 2, no additional information is
required. If you would like to utilize Option 3, please also complete questions 4-6.
Option 1 Option 2 Option 3
80% single Coverage 50% Family coverage Monetary Equivalent
Total Number of Pay 80%of premium costs Pay 50% of premium costs for Provide medical and pay the
Employees in for a standard medical plan, a standard medical plan, monetary equivalent of Option
Iowa single coverage, family coverage. 1 or Option 2 in supplemental
IEDA—Business Financial Assistance Application 6 v.08.06:2014
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250+ $750 maximum deductible $1,500 maximum deductible employee benefits.
50-249 $1250 maximum deductible $2500 maximum deductible Benefits Counted Toward
0-50 $1750 maximum deductible $3500 Maximum deductible Monetary Equivalent Medical
coverage, Dental coverage,
Vision insurance, Life
insurance, Pension, 401(k)
(company's Average
contribution, Short-Hong-term
disability insurance, Child care
services, Other nonwage
compensation
1. How many full-time, permanent employees does your company currently employ within the State of Iowa?23
2. What is the total premium cost for a standard medical plan for single employee coverage? $4,833
a. What portion of this cost is paid by the business? 85% ($4,096)
b. What is the deductible associated with this plan? $2,000
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3. What is the total premium cost for a standard medical plan for family coverage? $14.017
a. What portion of this cost is paid by the business?64% ($9,012)
b. What is the deductible associated with this plan? 2 000
No additional information required, in this section, if your company meets the requirement for Option 1 or Option 2
4. Does your company provide additional benefits to full time employees? ❑ Yes ❑No
If yes, please provide the annual amount offered by the business, per employee in the chart below:
Benefit Annual amount paid by the
business (per employee):
Dental Insurance—Single plan $
Dental Insurance—Family plan $
Pension Use 3-year average calculated below) $
Retirement Plan -i.e. 401(k) Use 3- earavera a calculated below) $
Profit Sharing Plan (Use 3-year average calculated below) $
Childcare Services $
Life Insurance coverage $
Disability Insurance coverage $
fHealth Savings Account HSA contribution $
TOTAL $0
5. Does the Business offer a pension plan, 401(k) plan, and/or retirement-plan? ❑ Yes ❑ No
If yes, please indicate the amount contributed on a per employee basis by the Business to the plan for the last three
years. For 401(k) plans, please provide information on the company match and indicate the average annual match per
employee.
Year Ending Average Actual Match per
Employee $
i 12/31/2011 $
12/31/2012 $
12/31/2013 $
Three-year Average: $
6. Does the Business offer a profit-sharing plan? ❑ Yes ❑ No
If yes, please indicate total amount paid out each year for the past three years and then, determine the average annual
C bonus or contribution per employee for that three year period.
Year Ending Average Actual Share per
Employee $
i $
I IEDA—Business Financial Assistance Application 7 v.08.06.2014
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$
Three-year Average: $
Notes:
1. A qualified plan must be offered to all full-time permanent employees.
2. If you have multiple health insurance plans,please provide information on each plan.
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SECTION E
Project Jobs
1. List the jobs that will be created and/or retained as the result of this project. (A retained job is an existing job that
would be eliminated or moved to another state if the project does not proceed in Iowa.) For jobs to be created,
include the starting and final hourly wage rate. For retained jobs, include the current hourly wage rate.
Full-Time CREATED Jobs (Add additional rows as needed
Job Title Number of Starting Wage at 36 months
CREATED Jobs Hourly Wage following the award
See the attached detail
Total Full-Time CREATED Jobs
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r Full-Time RETAINED Jobs (Add additional rows as needed)
Number of Current Hourly
Job Title (AT-RISK jobs only) RETAINED Wage
Jobs
None
Total Full-Time RETAINED Jobs
2. Is the hourly wage rate based on a 40 hour work week, 52 weeks per year?X Yes ❑ No
If no please explain:
IEDA—Business Financial Assistance Application 9 v.08.06.2014
SECTION G
Attachments
Please attach the following documents:
Al Project Plan
Please provide an executive summary for your project. This information should include, at a minimum,
expanded information about the company's products and services and any other project related information
that has not already been described in the application for financial assistance.
Please note, a traditional business plan, including an executive summary, market analysis, organization and
management structure, marketing and sales management, service and product line narrative, financial
projections, feasibility study and patent status, as well as any other relevant information, may be requested by
the Iowa Economic Development Authority to evaluate the feasibility of this project.
A2 Payroll Information (Confidential)
• Copies of the Business' Quarterly Iowa Employer's Contribution and Payroll Report for the past
year. This report should include the monthly employment totals.
• A copy of the most recent payroll report for one pay period. The copy of the most recent payroll
report for one pay period must be in Excel format and include the following information:
o Company name, date of payroll and source of payroll information
o Employee name and/or employee identification number
o Current hourly wage -do not include bonuses or other benefit values
o Indicate if the employee is full time (40 hours per week, 52 weeks per year) or part time.
o A sample Excel spreadsheet can be found at
http://Iowaeconomjcdevelopment.com/BusinessDev/application
A3 Affidavit that states the Business has not, within the last five years, violated state or federal statutes, rules,
and regulations, including environmental, worker safety regulations and antitrust laws, or, if such violations
have occurred, that there were mitigating circumstances or such violations did not seriously affect public health
or safety or the environment. A sample affidavit can be found at
http://iowaeconomicdevelopment.com/BusinessDev/application
A4 Financial Information (Confidential, unless already publicly available) (Existing Businesses Only)
Profit and loss statements and balance sheets for past three year-ends;
• Current YTD profit and loss statement and balance sheet;
• Schedule of aged accounts receivable;
• Schedule of aged accounts payable; and
Schedule of other debts.
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A5 Collateral documentation (If requesting direct financial assistance only)Will be provided by Wells Fargo N.A.
Contact:
Eric Swan, ABL Relationship Manager
Wells Fargo Capital Finance
MAC N9314-080 8 Floor
730 Second Avenue South
US Trust Building
Minneapolis, MN 55402
Phone-612-673-8526
Email-eric.swan(a)wellsfaMo.com
A6 Brownfield or Grayfield site documentation (if applicable)Will be provided by the City of Dubuque.
IEDA—Business Financial Assistance Application 11 v.08.06.2014
SECTION H
Certification & Release of Information
1. Are there any judgments or court actions completed or pending against the applicant entity, or any current or
prospective officer, principal,direokor.ocuwner? _] Yes XNo
2. Has any current or prospective officer, phnoipa(, director, or owner bean or convicted ofany vvnon8doing or
nhroe.other than aainnp|emisdemeanor? F- Yes X No
3. Have there been any current or past bankruptcies on the part of the applicant entity (or predecessor entities), or on
the part of any current (or prospective) officer, principal, owner or in any business dealings of current (or
prospective) offlcers, principats, or owners of the applicant entity? l Yes X No
4. In the last five years have there been, or are there currently any investigations of potential violations of public
health, safety (including workplace safety) or environmental laws by the applicant enUty, or any current or
prospective officer, principal, director, or owner? El Yes X No
5- In the last five years have there been, or are there currently any violations of antitrust laws by the appricant entity,
or any current or prospective officer, principal, director, or owner? �[l
� Yes }C No
6. /fyes to any ofthe above, please provide additianaf explanation:
| hereby give permission to the lowa Economic Development Authority DA) to research the Business' history, make credit checks,
contact the Business' financial institutions, insurance carriers, and perform other related activities necessary for reasonable
evaluation of this application. I also hereby authorize the Iowa Department of Revenue topmvidob|EDAs(ntetaxinfbmmdon
pertinent to the Business' state income tax, sales and use tax, and state tax credits claimed.
| understand that all information submitted to EDA related to this application is subject to Iowa's Open Record Law (Iowa Code'
Chapter 22), unless specificaily rnarked as confidenta section.
|
unders:tand that IEOA reserves the right to negotiate the financiat assistance.
| understand this application is subject to fizJ approval by IEDA and the Project may not be/n0ated unti firia approval is secured.
Furtherrnore, am aware that funds wi not be dibursed unhl a contracthas been executed and the apprapriate terrns havo been
met.
I hereby certify that aU representations,ns, warranties, or statements made or furnished to 1EDA in connection with this applcaton are
true and correcinaUmaterial mupecL|understmnd#atd{aauhmino|violationunder|owu|mwtoengaQoindacepdnnand
knowingly make, or cause to be made, directly or indirectly, a false statement in writing for the purpose of procuring economic
development assistance from a state agenay or subdivision.
F • the Business:
Pau Herzoq, CFO and Asst.Treasurer
Name and Title (typed or printed)
Signature
*
2/2/2015
---~ ---- --
Date
Name and Tit e ( yped or printed)
IEDA will not provide assstance n situations where it is deton(nod{hutanynopreuantation'mmnnnty.orstateoontmade
in connection with this application is incorrect, false, misleading or erroneous in any material respect, If assistance has
already been provided prior to discovery of the Incorrect, false, or misleading representation, IEDA may initiate legal action
to recover incentives and assistance awarded to the Business,
xa“y5.2m4
Section E: Project Jobs Hirschbach Motor Lines HQJP Application
Full-Time CREATED Jobs Starting Wage at 36 months
Job Title Number of CREATED Jobs Hourly Wage following award
AR& Billing Manager 1 $20.91 $20.91
Billing Coordinator 1 $16.72 $16.72
Billing Coordinator 1 $16.72 $16.72
Billing Coordinator 1 $16.47 $16.47
CFO 1 $50.00 $50.00
Leasing Coordinator 1 $12.00 $12.00
Leasing Manager 1 $24.04 $24.04
Payroll Coordinator 1 $16.72 $16.72
Payroll Coordinator 1 $16.72 $16.72
Payroll Manager 1 $16.83 $16.83
VP of HR 1 $50.00 $50.00
Director of IT 1 $40.87 $40.87
IT EDI Administrator 1 $24.93 $24.93
IT Programmer 1 $50.00 $50.00
IT Systems Administrator 1 $25.77 $25.77
IT Systems Administrator 1 $24.04 $24.04
Afterhours Operations Coordinator 1 $22.22 $22.22
Afterhours Operations Coordinator 1 $14.42 $14.42
Afterhours Operations Coordinator 1 $16.72 $16.72
Afterhours Operations Coordinator 1 $16.72 $16.72
Afterhours Operations Manager 1 $25.00 $25.00
Customer Service Coordinator 1 $16.72 $16.72
Customer Service Coordinator 1 $19.23 $19.23
Customer Service Coordinator 1 $22.36 $22.36
Customer Service Coordinator 1 $16.72 $16.72
Customer Service Coordinator 1 $16.72 $16.72
Customer Service Coordinator 1 $14.42 $14.42
Customer Service Coordinator 1 $20.19 $20.19
Customer Service Coordinator 1 $12.50 $12.50
Customer Service Coordinator 1 $16.72 $16.72
Customer Service Coordinator 1 $19.23 $19.23
Customer Service Coordinator 1 $19.71 $19.71
Dedicated Operations Manager 1 $21.39 $21.39
Detention Coordinator 1 $14.42 $14.42
Driver Manager 1 $20.19 $20.19
Driver Manager 1 $20.19 $20.19
Driver Manager 1 $19.23 $19.23
Driver Manager 1 $20.77 $20.77
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $18.75 $18.75
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $18.27 $18.27
Driver Manager 1 $18.03 $18.03
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $17.79 $17.79
Driver Manager 1 $17.55 $17.55
Driver Manager 1 $23.56 $23.56
Driver Manager 1 $16.72 $16.72
Fleet Manager 1 $22.12 $22.12
Fleet Manager 1 $21.15 $21.15
Marketing Manager 1 $24.04 $24.04
National Accout Operations Manager 1 $25.00 $25.00
Operations Support Coodinator 1 $18.75 $18.75
Planner 1 $33.65 $33.65
Planner 1 $20.43 $20.43
Planner 1 $26.92 $26.92
Pricing Manager 1 $24.04 $24.04
Regional Operations Manager 1 $37.79 $37.79
Regional Operations Manager 1 $40.87 $40.87
Service Tracking Coordinator 1 $14.00 $14.00
Service Tracking Coordinator 1 $16.72 $16.72
Service Tracking Coordinator 1 $16.72 $16.72
Service Tracking Manager 1 $25.00 $25.00
VP of Operations 1 $50.00 $50.00
VP of Sales and Operations 1 $50.00 $50.00
Accident Claims Coordinator 1 $13.75 $13.75
Accident Claims Coordinator 1 $18.75 $18.75
Cargo Claims Coordinator 1 $13.00 $13.00
Cargo Claims Coordinator 1 $18.27 $18.27
Employee Outreach Coordinator 1 $13.00 $13.00
Fuel Administrator 1 $18.75 $18.75
Fuel Administrator 1 $18.27 $18.27
Fuel Performance Coordinator 1 $19.95 $19.95
Fuel Performance Coordinator 1 $21.63 $21.63
Orientation Coordinator 1 $21.39 $21.39
Orientation Coordinator 1 $18.27 $18.27
Risk Manager 1 $26.44 $26.44
Safety Manager 1 $19.95 $19.95
VP of Safety 1 $50.00 $50.00
Director of Maintenance 1 $45.67 $45.67
Equipment and Licensing Coordinator 1 $12.00 $12.00
Maintenance Coordinator 1 $17.31 $17.31
Maintenance Service Writer 1 $23.16 $23.16
Maintenance Service Writer 1 $16.72 $16.72
Manager of Maintenance 1 $31.25 $31.25
OTR Breakdown Administrator 1 $13.50 $13.50
OTR Breakdown Administrator 1 $14.00 $14.00
OTR Breakdown Administrator 1 $14.50 $14.50
OTR Breakdown Administrator 1 $11.00 $11.00
Property Management Coordinator 1 $10.50 $10.50
Warranty Coordinator 1 $14.50 $14.50
President 1 $16.72 $16.72
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $16.72 $16.72
Driver Manager 1 $16.72 $16.72
HR Manager 1 $16.72 $16.72
Switchboard Coordinator 1 $14.00 $14.00
AR Coordinator 1 $15.00 $15.00
Total Full-Time Created Jobs= 99