Sandridge Food Corp. will construct a $16.1 million facility and create 50 new jobs by 2020 in Medina, Ohio, through grant agreements with the City Council and Port Authority.
According to an article in the Medina Gazette, the Medina City Council approved a grant agreement providing the company with an incentive under the city’s Job Creation Grant program for an annual payment for five years of up to 40 percent of the company’s annual payroll withholding taxes generated by new employees.
For the expansion, which includes construction and improvements as well as machinery, equipment, furniture and fixtures, Sandridge is also to receive a $300,000 tax incentive based on the Port Authority Board member vote to approve an agreement through which the company will avoid paying $300,000 in sales tax on the building material used in the project. According to Medina’s Post Newspapers, the agreement basically calls for the Port Authority to issue the bonds to finance the project and for Sandridge to lease the land from the Port Authority and build the facility on its behalf. Since the Port Authority is a nonprofit organization, it gets an exemption from Ohio and local sales taxes.
The new 15,000-square-foot addition will be located at 133 Commerce Drive and add 15 new full-time positions in 2018, 15 in 2019, and 20 in 2020. Sandridge currently has 667 employees in Medina and 673 full-time employees in Ohio.
Read QA's Cover Profile on Sandridge Foods: Where Innovation Bridges Culinary Arts with Industry.