The developers of a new company in western Iowa are seeking investors for a salmon growing operation. Jackson Kimle (Kim-lee), the vice president for business development of the Inland Sea Company, says they are bringing a Danish indoor recirculating aquaculture system that will produce five-point-three MILLION pounds of Salmon to Harlan. Kimle’s father Kevin is the company C-E-O and a professor at Iowa State University. He says they chose Harlan for several reasons — including its location and availability of power.
He says there’s a lot of frozen shipping that goes through nearby Omaha and then to Chicago, making it a good option for getting the product out. Iowa grows a lot of corn and soybeans that’s used for animal feed, but Kimle says there will need to be some work done to take advantage of that for fish feed.
The company is seek approximately 12 million dollars in capital from accredited investors.
He says the plant is estimated to bring about 20 jobs in this facility to the area. Fifteen of the jobs will be involved in fish production and he believes a significant amount of that 15 will be highly-skilled labor. The other jobs will be processing the fish. A facility that is billed as the largest land-based fish farm in North American raises Australian sea bass in Webster City. Kimle says Iowa’s business climate and location make it attractive for fish farming. Company information says the primary sources of salmon consumed in the U-S are Norway, Scotland, and Chile with most salmon consumed in the Midwest coming from approximately 45-hundred miles away. The facility is expected to cost around 28 million dollars (27.6). Construction is anticipated to begin in 2016 with first harvest planned for 2018. The company projects annual revenues of approximately 16 to 20 million dollars, depending upon prices and actual salmon production. Annual earnings before interest, taxes, depreciation, and amortization are projected between 4 and 7 million dollars. The company will launch its equity drive with a meeting for interested investors in Harlan. A list of meetings and their locations can be found below.
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September 6 – Harlan CG Therkildsen Activity Center, 706 Victoria Street, Harlan
September 7 – Des Moines Citizens Community Choice Credit Union Convention Center, 833 5th Avenue
September 8 – Sioux City Stoney Creek Inn (Pioneer Room), 300 3rd Street
September 12 – Mason City NIACC Muse Norris Conference Center, 500 College Drive
September 13 – Cedar Rapids Marriott, 1200 Collins Road
September 15 – Council Bluffs Mid-America Center (Club Room – upstairs), One Arena Way
All meetings begin at 1:30 pm.
