State economic development officials on Wednesday announced food distributor Nash Finch Co.’s plans to open a Bloomington warehouse and hire 100 workers, formalizing a commitment the Minnesota-based firm made this summer.
As IBJ reported this week, the Bloomington City Council began working on almost $500,000 in tax abatements for the project in July in hopes of luring the company to a vacant warehouse. It worked.
Indiana Economic Development Corp. leaders said Nash Finch intends to invest $10.6 million to buy and renovate a 300,000-square-foot facility. The firm plans to use the warehouse to supply groceries to military commissaries, including nearby Crane Naval Surface Warfare Center. Nash Finch also supports conventional supermarkets, ethnic groceries and discount stores.
The 125-year-old firm employs about 7,500 nationwide and reported annual sales of nearly $5.2 billion, making it the second-largest publicly traded company of its kind in the country. It plans to begin hiring immediately and expects to create as many as 100 jobs by 2014.
IEDC offered the company as much as $525,000 in performance-based tax credits based on the company's job creation plans. Monroe County approved $438,746 additional property tax abatements.