County Giving $50M Boost to Food Company
RICHMOND, Ind. (AP) — An eastern Indiana county is giving a $50 million assist to a food-processing company that plans to restart a closed factory.
The Wayne County Council on Wednesday approved the bond issue as part of Sugar Creek Packing Co.'s plans to expand and refurbish the former Really Cool Foods plant near Cambridge City. The Palladium-Item reports (http://pinews.co/Rass1d) the company will be responsible for repaying the bonds within 40 years.
Sugar Creek executive Tom Bollinger says work is expected to start next spring, with the plant in operation by mid-2014. The Washington Court House, Ohio-based company expects the plant to have 400 workers processing pork and chicken products.
Really Cool Foods closed the plant last year after never coming close to its plans of hiring the 1,000 workers it announced in 2007.
Information from: Palladium-Item, www.pal-item.com