A major food distribution company based in San Antonio is considering Jarrell, a town located north of Austin, for the construction of a new $42 million facility spanning 150,000 square feet. This development would also bring about at least 150 job opportunities to the area.
Labatt Food Service has identified a potential site for their warehouse on 48 acres near the intersection of Ronald W. Reagan Boulevard and County Road 237. According to reports from the Austin Business Journal, there are plans for performance-based incentives worth up to $1.3 million from the city as part of this agreement. These include a tax abatement equivalent to half of their taxes over ten years with an upper limit set at $600,000.
In exchange for these incentives, Labatt must invest no less than $30 million towards construction costs and another $12 million towards personal property expenditures by July 31st ,2027.They must also obtain certification allowing them useable space measuring no less than 1500 square feet by that same date while commencing operations within it before then too.Finally they have agreed that they will employ not fewer than one hundred fifty people within three years after opening shop.
The company already works with seventy-five percent school districts across Texas as well as some in New Mexico.This news was first reported on Connect CRE .
