BLOOMINGTON, Ind. – The Monroe County Council approved a 10-year tax abatement for Grocery Supply Acquisition Corp. (GSAC) on Tuesday, August 3, 2010, paving the way for GSAC to move forward with the purchase of 311 N. Curry Pike and the development of their business in Monroe County.
The company will create 75 new positions by 2013, invest $5.4 million in property improvements and $1.9 million in equipment. By 2013 average hourly wages are expected to $20.18, excluding benefits.
GSAC is a wholly owned subsidiary of the Nash Finch Company (NASDAQ: NAFC). The Monroe County facility will support MDV (also a division of the Nash Finch Company), which distributes grocery and related products to military commissaries in the US and abroad.
County officials were supportive throughout the approval process, enabling the abatement application to be considered in a timely fashion and eventually approved unanimously by the Council as well as the Economic Development Commission and the Redevelopment Commission. Their professionalism and sincere interest in securing the new investment and new jobs in Monroe County put forth a business-friendly image and represented the community well.
The BEDC first began working on this project in March as the company looked for sites in the Midwest. The primary competition for this project was a site in Louisville, Kentucky. The tax abatement assisted the company in making their decision to locate in Monroe County and helps secure payroll tax credits from the state and economic development assistance from Duke Energy.
The BEDC is the lead business retention, development and attraction entity for Bloomington and Monroe County, Indiana. The BEDC serves as the lead intermediary between local businesses and state and federal economic development assistance programs. The BEDC is also the host for the Bloomington Life Sciences Partnership (BLSP) and the Bloomington Technology Partnership (BTP). Further information about the BEDC is available at www.comparebloomington.us.
About the Nash Finch Company
Nash Finch is a Fortune 500 company and one of the leading food distribution companies in the United States. Nash Finch’s core business, food distribution, serves independent retailers and military commissaries in 36 states, the District of Columbia, Europe, Cuba, Puerto Rico, the Azores and Egypt. The Company also owns and operates a base of retail stores, primarily supermarkets under the Econofoods(R), Family Thrift Center(R), AVANZA(R) and Sun Mart(R) trade names. Further information is available on the Company’s website, www.nashfinch.com.