The company now employs 80 people at its plant at 141 E. Riverside Drive.

The company, which is part of Argenta, based in New Zealand, commenced operations in Fort Dodge in 2016 in a facility that has a long history in the veterinary medicine field. It was previously owned by Fort Dodge Laboratories, Fort Dodge Animal Health and Boehringer Ingelheim Vetmedica Inc.

The company develops, licenses and manufactures products for other companies, which are sold under the names of those companies.

“They’ve been a fast-growing business,” said Dennis Plautz, chief executive officer of the Greater Fort Dodge Growth Alliance.

Just how fast the company has grown can be shown by the number of people on its payroll. To meet the requirements of various incentives it received to help it start the plant up, AML Riverside had to create 30 jobs by the end of last year. It easily exceeded that figure, with 80 people on the payroll at the end of last year.

Plautz said the upcoming project will consist of upgrading and modifying the plant so that more research and development work can be done there. He said the physical plant will not be expanded.

However, the staff will be expanded with the addition of 12 positions, including chemists, plant operators, engineers, mechanics, a financial manager and a planner/buyer.

The company will be adding $719,960 in new payroll in the first year.

On Monday, the City Council moved to support the project by making an existing loan a forgivable one that will not have to be repaid.

In 2015, the council approved a $100,000 loan to the company. It was a no-interest loan due to be paid back in one lump sum next month. The company requested that the loan be forgiven.

With no discussion, the council voted unanimously Monday to do that.