Columbus Biz Journal
The city of Columbus is offering beverage giant Coca-Cola Co. a tax incentive package as the company mulls a $120 million expansion of a south-side plant that could create up to 35 jobs.
The incentive package for Coca-Cola up for consideration at Columbus City Council’s Monday meeting includes a 75 percent, 10-year Enterprise Zone Tax Abatement and a six-year, 65 percent Job Creation Tax Credit. They’re valued at up to $10.5 million over the term.
Coca-Cola says it’s looking to expand its Watkins Road syrup plant and add 35 full-time job to the site’s 116-worker payroll to upgrade advanced manufacturing lines along with automated storage and retrieval systems. The project could begin as early as January and is set to be completed before November 2012, contingent on approval of the incentives.
According to documents from council, Coca-Cola’s annual payroll in Columbus totals about $7 million. The new jobs, mostly production positions paying about $21 an hour, would add about $1.7 million.