Largest gift in the history of the College set to benefit entire east central region.
Reza Kargarzadeh (Car-gar-z-day), President and Founder of Engineered Plastic Components, Inc. based in Grinnell, Iowa, is donating the former Maytag facilities to become part of the DMACC Newton Campus.
The $8 million gift includes seven buildings, incorporating 472,000 square feet of office and meeting space. It represents the largest donation to DMACC since the College was founded in 1966. It will triple the size of the DMACC Newton Campus.
“My family and I wanted to make an important contribution to the College, Newton community and State of Iowa,” said Kargarzadeh. “The Maytag campus is in excellent shape as we’ve made a number of improvements over the past few years. My hope is that we see more academic programs for DMACC students and new businesses locating in Newton. It’s a win – win for all involved.”
“On behalf of DMACC and the greater Newton community, I want to express my thanks and appreciation to Reza Kargarzadeh for this generous gift,” said Governor Terry Branstad. “This represents another significant milestone in helping Newton on their continued path toward economic recovery and success. This announcement offers benefits for many years to come. Mr. Kargarzadeh is a visionary as well as a philanthropist.”
Preliminary plans call for a multiuse facility that could include:
- Traditional office/industrial park for existing companies and others
- Student housing
- Space for an expansion of new and existing academic programs
- A business incubator for startup and growth companies offering move-in ready space, access to 100 Gbps fiber optics to support voice, video and data, and DMACC’s custom workforce training program.
“Mr. Kargarzadeh approached DMACC earlier this year with this exciting proposal,” said Rob Denson, DMACC President. “We will be working closely with the City and the Newton Development Corporation to grow this business park. It offers a unique opportunity for all of us to work together to create new opportunities and jobs in Newton.”
Denson said the business campus will offer prospective companies many advantages, including access to technology and worker training and work-ready students and graduates. “If an entrepreneur or business is interested in locating on our newly expanded campus, I’d urge them to contact us soon. Discussions are already underway with several entities,” noted Denson.
DMACC’s Board Chair and Newton resident, Joe Pugel, said Maytag was instrumental in creating the DMACC Newton Campus almost 25 years ago. “The history of DMACC and Maytag are closely connected. Now, it seems fitting that Maytag’s former facilities will become part of the College and will be the place where new businesses will be created and a new generation of workers will be trained and employed.”
Kargarzadeh said this is a unique marriage of education and economic development. But, this not his first real estate donation. Kargarzadeh said he and his family donated an office building in Marysville, Michigan, for new city offices there.
Engineered Plastic Components, Inc., is headquartered in Grinnell, Iowa, and has 15 plants in 10 states and an operation in Mexico. The plastic injection molding company was founded in 1994 by Kargarzadeh and manufactures plastic parts for the aerospace, consumer appliance, agricultural, heavy equipment and medical fields.