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Waverly council approves incentive for United Equipment, backs Impact CNC state application
Summary
The City of Waverly approved a development agreement providing performance-based grants to United Equipment Accessories to support expansion and job growth; the council also voted to support Impact CNC’s state incentive application for a planned acquisition that officials say will retain about 70 jobs and create 45 more over three years.
The City of Waverly on July 6 approved a development agreement with United Equipment Accessories (UEA) that offers performance-based local grants to support the company’s expansion into a former Winnebago facility and its commitment to new jobs.
Connie Tolan, planning and development specialist, told the council that UEA’s agreement requires the company to acquire and improve the property in the Waverly urban renewal area and to create 18 full-time-equivalent jobs by Dec. 31, 2026. The local incentive is structured as two annual performance grants of $1,000 per planned job — one for creation by Dec. 31, 2026 and one for retention through Dec. 31, 2027 — capped at $36,000 and funded by tax-increment financing. Tolan said the grants are contingent on the company meeting the performance milestones outlined in the agreement.
Deb Molack, CEO of United Equipment Accessories, said the company has already exceeded the headcount commitment. "Currently we have hired 21 people," Molack said, adding that 14 are manufacturing positions and seven are office positions. Molack described the renovated site as "UEA west plant," said interior work and signage are expected by August and said the company could add another 23,000 square feet in the future. The council approved Resolution 26-143 by roll call.
On a separate item, the council adopted a resolution expressing municipal support for Impact CNC LLC’s application to the Iowa Economic Development Authority’s Business Incentives for Growth program. Connie Tolan described the project as an acquisition of a majority ownership interest in GMT Corporation’s Waverly manufacturing facilities; staff estimated a capital investment of about $2 million with retention of approximately 70 existing jobs and creation of 45 new full‑time‑equivalent jobs over three years.
Dan Bourcier, general manager for Impact CNC in Waverly, outlined operational and workforce plans, saying the company is pursuing new contracts (including work tied to John Deere) and rapidly recruiting. "We have one heck of a workforce right here in Waverly," Bourcier said, and described immediate sales opportunities and a training push to onboard new hires. Bourcier told council members Impact CNC will likely seek job‑assistance incentives in the future and is looking at state training support for onboarding.
Votes at a glance: the council recorded affirmative roll-call votes or unanimous voice votes on the following resolutions introduced this meeting — Resolution 26-143 (United Equipment Accessories development agreement, approved); Resolution 26-144 (Amperage Marketing contract, approved); Resolution 26-145 (support for Impact CNC state application, approved); Resolution 26-146 (GASB 75 actuarial services agreement, approved); Resolution 26-147 (authorize Recreational Trails grant application, approved); Resolution 26-148 (set bid and hearing dates for boat ramp project, approved); Resolution 26-149 (sewer line repair fee schedule, approved); Resolution 26-150 (set public hearing to consider conveyance of property to Bartlett/Bartles Lutheran retirement community, approved to set hearing date).
Why it matters: The development agreement and the municipal support for Impact CNC are aimed at preserving and expanding local manufacturing employment in Waverly. City incentives and state-level grants often are used to make facility acquisitions and new hiring economically viable and to support training. Councilmembers asked clarifying questions about operations, markets and whether Impact CNC will return to request local incentives; company representatives said they expect to pursue additional assistance and training funds.
The council approved the measures during its regular July 6 meeting and recorded roll‑call votes where noted. The public hearing identified in Resolution 26-150 was set for July 20, 2026 at 7:00 p.m. in Council Chambers.
Sources: Statements and motions on the record at the City of Waverly City Council meeting, July 6, 2026. Quotes attributed to speakers who spoke on the record: Connie Tolan (planning and development specialist); Deb Molack (CEO, United Equipment Accessories); Dan Bourcier (general manager, Impact CNC).
