Scott Steger (left) of Acme Graphics checks a paper folding machine as Dawn Neil checks documents at the company in January 2009. Acme Graphics is seeking tax-increment financing assistance from the City of Cedar Rapids to build a new 22,000-square-foot building on 49th Avenue Drive SW to replace its existing location at 201 Third Ave. SW that was damaged by the 2008 flood. Sait Serkan Gurbuz/SourceMedia Group News

CEDAR RAPIDS — An almost century-old Cedar Rapids business has applied for tax-increment financing assistance from the city to build a new printing plant in southwest Cedar Rapids.

Acme Graphics sustained significant damage from the 2008 flood to its existing facility at 201 Third Ave. SW. The company, which will mark its 100th anniversary in the summer of 2012, is proposing to construct a 22,000-square-foot building at 320 49th Avenue Dr. SW.

Acme Graphics’ existing plant is located in the proposed flood protection area and is in the process of being purchased by the City of Cedar Rapids as part of the flood mitigation plan. The new facility will keep Acme’s 20 current employees in Cedar Rapids.

“Shortly after moving into our new location during the summer of 2012, we will have the opportunity to celebrate our 100th year of conducting business in Cedar Rapids,” said Jeff Scherrman, president of Acme Graphics. “We appreciate the efforts of both Priority One and the city in helping us find a location that meets the needs of our company.”

Mayor Ron Corbett said it is important to the Cedar Rapids City Council to keep Acme Graphics and its employees in the city.

“Job retention doesn’t always get as much attention as job creation, but it is essential to the economic vitality of our community,” Corbett said.

Priority One, the economic development division of the Cedar Rapids Area Chamber of Commerce, is assisting Acme Graphics with the TIF application  process.

Virtually all of Acme Graphics’ printing equipment was either damaged or destroyed by the 2008 flood, along with office computers and furniture. The flood also destroyed $300,000 of paper stored in three 53-foot trailers.

Founded in 1913 as the Acme Post Card Co., the firm originally specialized in printing picture post cards for Iowa towns. However, a World War II paper shortage ended the company’s greeting card business.

Acme Graphics primarily produces memorial books and cards for funeral directors.