COLUMBIA - Swift Prepared Foodsâ application for tax incentives to build an Italian meats plant on Paris Road that would employ 251 people won the unanimous approval of the Boone County Commission on Thursday.
The company plans to invest $150 million to build a 275,000-square-foot plant that will begin production in the third quarter of 2022, Swiftâs Matt LaFollette told the commission Tuesday, when it held a first reading of a measure accepting the recommendation of the Chapter 100 Review Panel that the incentives be approved. It also plans a $35 million, 50,000-square-foot expansion of the plant in its third and fourth years.
The plant would be built on 80 acres at 5008 Paris Road in an industrial corridor that already includes Schneider Electric Square D, 3M, Aurora Organic Dairy and Kraft Foods.
Columbia is on the short list of locations for Swift Prepared Foods, which is seeking a location for a $200 million Italian meats processing plant to open in 2022.
Columbia is one of three locations the company is considering, said Bernie Andrews, executive vice president of Regional Economic Development Inc., by phone on Wednesday.
Company officials on Tuesday made their pitch to the Chapter 100 Review Panel over Zoom. It includes members of each taxing entity involved.
The company has made an application for the issuance of Chapter 100 Revenue Bonds. Related to that, it is seeking 75% property tax forgiveness for 10 years.
The 251 full-time jobs would have an average annual wage of $52,693. The plant s annual payroll would be $13.23 million. A long list of employee benefits was displayed.