Meredith to spend $21 million on Iowa headquarters remodel
DES MOINES, Iowa (AP) — Magazine and broadcasting company Meredith plans to remodel its corporate headquarters in Des Moines to accommodate 41 jobs it’s transferring from New York as it merges the Time Incorporated staff into its own.
Meredith acquired Time in January and plans a $21 million remodeling project to create additional space.
The company plans to seek $460,000 in tax incentives from the Iowa Economic Development Board at Friday’s meeting.
Board documents indicate the company plans to start the project in April with completion expected in three years.
Meredith bought Time for $1.8 billion in January and plans to save up to $500 million merging operations.
The company announced Wednesday that 200 workers were laid off. None were in Iowa. Another 1,000 jobs will be eliminated in the next 10 months.
COPYRIGHT 2020 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.