Johnston will be the corporate headquarters for Vylor, the giant Corteva Agriscience seed spinoff, the $55 billion company has announced.
The Tuesday, May 12, news comes after a lobbying campaign by Johnston and Iowa leaders that began in October, when Indianapolis-based Corteva said it would split its seed and crop protection businesses.
The move will represent a sort of homecoming for the company. Corteva’s seed business has its roots in Pioneer, the hybrid seed company that long was based in Johnston before it landed with Corteva in a series of acquisitions and other corporate moves.
Corteva’s seed research and development arm is still in the Polk County city.
The company said Tuesday that Indianapolis will remain the headquarters for New Corteva, the temporary name for its crop protection spinoff. It said the “decision underscores both companies’ commitment to their employees, deep community roots and legacy of agricultural innovation in both Iowa and Indiana.”
“Our roots stretch back 100 years to a farm in Johnston, which we call home,” Corteva CEO Chuck Magro, tapped to become Vylor’s chief executive, said in a statement. “Vylor is proud to build on our long history of innovation in Iowa and continue to work alongside farmers to help feed and fuel our growing world.”
Gov. Kim Reynolds in a statement said Iowa will provide the foundation for Vylor’s future.
“This decision further validates Iowa’s leadership in agriculture, bioscience, and innovation, and the competitive business environment we’ve created positions us well as a center for bio-industrial discovery and manufacturing,” Reynolds said.
“We look forward to working with Vylor leadership as they begin this next chapter and continue to grow in Iowa,” she said.
Headquartered at Corteva’s existing Johnston campus, Vylor will build on “Iowa’s deep agricultural roots while advancing next-generation seed genetics and biotechnology,” the governor’s office said.
“The location places the company at the center of one of the most productive agricultural regions in the world,” it said.
Iowa Secretary of Agriculture Mike Naig also celebrated the news.
“Planting the headquarters here sends a strong signal to Iowa farmers that this company values being in the heart of agriculture and close to the customers it serves every day,” Naig said in a statement. “I look forward to working alongside Vylor’s leadership to support Iowa farmers and strengthen our state’s agriculture community.”
Iowa incentives for headquarters move in the works
The announcement builds on Iowa’s continued investment in its biosciences ecosystem, which has seen growth in research activity, venture capital investment and specialized talent.
Corteva’s decision to make Johnston its home “recognizes not only the long and impactful history Pioneer and its other seed brands have had in Johnston, but also that we are in a great position to support Vylor’s future goals focused on advanced seed and genetics,” Johnston Mayor Paula Dierenfeld said in a statement.
“We’re excited and proud to be the place where the next generation of innovation and growth will take root with Vylor. Here’s to the next 100 years,” Dierenfeld said.
The headquarters is expected to add a couple hundred high-paying executive jobs. The company’s announcement did not specify how many or whether facilities will be expanded to accommodate them.
Dierenfeld told the Register on Tuesday that “it’s too soon to speculate” on the headquarters jobs. “There’s going to be lots of opportunity for them to grow and thrive here,” she said, adding that the city has been working with the state and county on providing Vylor incentives.
“At this point, we’re still working through the details,” she said.
Debi Durham, Iowa’s economic development chief, told the Register in February the state was “all in” on landing the headquarters. On Tuesday, she credited the Des Moines metro’s grassroots campaign — called Plant the Headquarters Here — for its part in the successful effort.
“This is more than a business development win,” Durham said in a statement. “It reflects the strength of our community members and… campaign partners who stepped up to express their support for Vylor’s mission in Iowa.
“We organized a grassroots effort very unique to this opportunity, and those voices were heard. More than 700 people signed a petition encouraging Vylor leadership to choose Iowa, with nearly 300 sharing personal stories,” she said. “This decision is a testament to what Iowa offers — and to the people who make this state exceptional.”
Matt McCoy, chair of the Polk County Board of Supervisors, said in a statement that Corteva’s decision is “a vote of confidence in our workforce, our quality of life, and the momentum we’re building.”
“From continued investments in infrastructure like the Des Moines International Airport to the strength of our communities, we’re seeing that momentum pay off. We’re proud to partner with Vylor and appreciate their long-term commitment to growing right here in Polk County,” McCoy said.
Reynolds is considering a bill the Legislature passed that would provide tax incentives for corporate jobs at companies engaged in advanced manufacturing, bioscience, insurance and finance, technology and research and development that locate their headquarters in the state.
The Iowa Department of Economic Development said the specific incentives planned for Vylor are a confidential proposal at this point. It said the final request will be subject to approval by the Iowa Economic Development Authority after Vylor becomes an official business entity later this year and submits a formal application for incentives.
Vylor also will have a corporate business center in Southeast Pennsylvania, Corteva said.
The company said the crop protection spinoff, New Corteva, will remain in Indianapolis because of Indiana’s position as a global biosciences innovation hub.
New Corteva will maintain a global corporate business center in Wilmington, Delaware.
Last month, Corteva marked the 100th anniversary of Iowan Henry A. Wallace founding the Pioneer Hi-Bred Corn Co. in 1926.
Wallace ― who later served as U.S. agriculture secretary and was elected vice president ― used 40 acres near Johnston to grow the company’s revolutionary hybrid seed.
Pioneer is now a top brand in the Corteva portfolio.
Reporters Phillip Sitter and Maya Marchel Hoff contributed to this story.
Donnelle Eller covers agriculture, the environment and energy for the Register. Reach her at deller@registermedia.com.
This article originally appeared on Des Moines Register: Seed spinoff Vylor to be headquartered in Johnston, Corteva announces
Reporting by Donnelle Eller and Phillip Sitter, Des Moines Register / Des Moines Register
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