Iowa Fastener has outgrown its leased warehouse in Ankeny so many times that the company is now building its own. The distributor of nuts, bolts, clips, gaskets and O-rings plans to invest between $10 million and $12 million in an 82,000-square-foot warehouse and distribution facility near its current site, with construction expected to begin this fall and completion slated for July or August 2027.
The new building will rise at 2210 SE Creekview Drive, just next door to the company's current leased space at 2302 SE Creekview Drive, according to Business Record. Iowa Fastener currently operates out of 35,000 square feet of leased space, but the company has acquired about 5.5 acres on an adjacent parcel from the Denny Elwell Group to build a facility it will own rather than lease. The company will stay put at its current location until the new building is finished.
Rick Parker, general manager of Iowa Fastener's Ankeny location, said the expansion is meant to keep up with growing customer demand. The outlet reports Parker said the company was running out of room in its current facility — a problem that has become something of a pattern. Iowa Fastener opened in 2019 with about 10,000 square feet, added 15,000 square feet after just six months, and tacked on another 10,000 square feet this year alone.
From One Customer to Hundreds
The growth trajectory behind the new building is striking. Iowa Fastener started with a single customer in 2019 and today serves hundreds, per the same account. That jump in volume is what's driving the company to build an 82,000-square-foot facility—about 2.34 times its current 35,000-square-foot space—rather than lease yet another addition.
For the build itself, Iowa Fastener is working with ATI Group in Ankeny to manage construction and Rains Architecture in Johnston on design. Parker, who has lived in Ankeny since 1970 and has worked in or run businesses in the city for more than 30 years, said keeping the company local was his preferred choice. He also described the city's incentive package as generous, the report notes.
City Council Signs Off on Incentive Package
The Ankeny City Council approved an incentive package for the project at its October 19 meeting. The package includes seven years of tax increment finance rebates based on increased property valuation, with the rebates capped at $735,000 total over that period, according to city documents cited by the outlet. In exchange, Iowa Fastener is required to create three new jobs while retaining its 17 current positions.
The Ankeny expansion follows a broader pattern of manufacturing and industrial investment across the region. In August, four Iowa manufacturers were reported by Plant Services as investing more than $62 million combined to expand operations spanning electrical equipment, precision machining, metal fabrication and food processing. Iowa Fastener's project adds another data point to that trend, even as the company's own story remains rooted in steady, incremental growth from a single Ankeny warehouse.
