Leprino Foods is a dairy-product manufacturing company planning to expand their operations into Lubbock, Texas. Upon completion of construction, their operation is expected to generate 674 new Primary Jobs, and approximately $870,000,000 in new capital investment. The company plans to develop a 258-acre site located east of Loop 289 and 19th Street, where they will build manufacturing and wastewater treatment facilities. The LEDA Board of Directors voted to incentivize Leprino Foods with the following:
- Up to $100,000 for the following surveys: Topographic, Geotechnical, and Phase One Environmental.
- Up to $12,500 for procurement of Pollution Insurance.
- 258 acres of land located in Lubbock, Texas.
- Infrastructure improvements including the Treated Effluent Pipeline, gas supply, and road improvements.
- The Treated Effluent Pipeline will be capable of conveying up to 3.5 million gallons per day at a flow rate of 3,500 gallons per minute, to be discharged at Lubbock's Lake 6.
- Up to $150,000 towards the cost of building improvements necessary to access and draw supply from the high-pressure gas line located adjacent to the property.
- Up to $25,300,000 reimbursement of Project Costs, through job creation and capital investment.
- Up to $6,740,000 for Job Creation Incentives at the rate of $10,000 for each Full-Time Job created, to be paid out over a 5-year period.
- Up to $19,300,000 of Project Costs, beginning at the end of Year Two, and payable over a 9-year period.
The LEDA Board of Directors approved these incentives at their February 23, 2022 Regular Board Meeting, and recommend approval by the Lubbock City Council. |