McKee Foods receives check for job creation

McKee Foods Corporation’s Gentry Plant received a $102,753.77 check from the Arkansas Economic Development Commission last Thursday for its participation in the Create Rebate program. Pictured are Benton County Judge Bob Clinard, Gentry Mayor Kevin Johnston, Gentry Chamber of Commerce President Bev Saun- ders, Vice President of McKee Foods Gentry Operations Tim Broughton, AEDC Project Manager-Business Development Sarah Clark and AEDC Project Manager- Existing Business Resource Division Becky Rheinhardt.

McKee Foods Corporation’s Gentry Plant received a $102,753.77 check from the Arkansas Economic Development Commission last Thursday for its participation in the Create Rebate program. Pictured are Benton County Judge Bob Clinard, Gentry Mayor Kevin Johnston, Gentry Chamber of Commerce President Bev Saun- ders, Vice President of McKee Foods Gentry Operations Tim Broughton, AEDC Project Manager-Business Development Sarah Clark and AEDC Project Manager- Existing Business Resource Division Becky Rheinhardt.

Wednesday, October 17, 2012

— McKee Foods Corporation’s Gentry plant received a $102,753.77 check from the Arkansas Economic Development Commission (AEDC) on Oct. 11 for participation in the Create Rebate program.

The Create Rebate program enables Arkansas to compete with other states’ incentives and may only be offered at the discretion of the AEDC director. The program provides annual cash payments to eligible companies based upon a percentage of their annual payroll for the term of the agreement.

The check, presentedby Sarah Clark, AEDC Project Manager-Business Development, represents a payroll rebate to McKee Foods in response to the company’s job-creation efforts.

“I am thankful for our partnership with the Arkansas Economic Development Commission,” said Tim Broughton, vice president, Gentry Operations. “We are blessed to have operated our manufacturing facility for the past 30 years in Arkansas where the incentives are competitive for both new and existing industries.”

In an agreement signed May 15, 2002, McKee Foods had a two-year period to create 100 newfull-time permanent jobs in support of the state and local economies. A twoyear extension was asked for and granted and McKee Foods met the 100-job creation requirement in March 2005. McKee Foods Gentry Plant is credited with creating over 220 jobs during the eight year incentive period.

In exchange, the AEDC agreed to “rebate” the lesser of 3.9 percent of the net new employees’ wages or $3,800,000 for wages paid within 96 months of the agreement date. This payment represents the last payment under the agreement and makes the total payout under this agreement $1.85 million.

News, Pages 3 on 10/17/2012