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Wilson County committee approves bigger incentive for Bridgetown Natural Foods after project grows
Summary
County staff recommended and the committee approved a modification to an existing economic incentive for Bridgetown Natural Foods after the company reported roughly $27 million in additional investment, a rise in committed jobs from 219 to 237, and higher starting wages.
Wilson County’s budget/finance committee voted to recommend a modification to a previously approved incentive for Bridgetown Natural Foods, following county staff’s presentation that the project’s size and payroll commitments have increased.
County staff told the committee the company’s total investment has risen by about $27 million from the original plan, pushing total investment to “over a $100” million. Staff said the change would raise the county incentive from “just over $1,000,000 … 71,000 and some change” to “not quite 1 and a half,” with the updated incentive value discussed as roughly $1.475 million. Staff characterized the additional projected property-tax income over the three-year abatement term as about $402,224.
On jobs and wages, staff said Bridgetown increased its committed headcount from 219 to 237 positions and raised the committed starting wage from $22.13 to $23.83 per hour. "They're now comfortable committing that they're gonna create at least 237 jobs," the presenter said. The presenter also noted that because much of the incremental investment is in equipment (personal property), the company will still pay the personal-property portion required by the incentive. Staff estimated the company would pay about $123,664 in personal-property taxes over the three years under the revised figures, compared with roughly $94,780 under the earlier agreement.
The presenter framed the revision as improving the county’s return on investment: "we feel like to get 27 and a half million for 400,000 … so it's a good, good thing for our both in return on investment there." The committee moved and seconded the modification; the motion carried.
The revised incentive had been reviewed and recommended by the county economic development review committee (reported as the JCDB executive committee) at its October 3 meeting, according to staff. The committee directed staff to proceed with finalizing bonding and other steps so the company can move forward.
Next steps: staff will complete required documentation to implement the modified incentive and proceed with project bonding. The committee did not record further conditions in the meeting record.
