A deal to bring Maines Paper & Food Service Inc., a distribution operation, to Harford County is in the works and awaiting approval from the county council. The incentive package is a joint effort with the state to help the distribution center expand its Maryland operations.
As reported in The Baltimore Sun:
The package for Maines Paper & Food Service Inc., is made up of two components: a $500,000 grant/loan from the Maryland Department of Commerce’s Maryland Economic Development Assistance Fund, or MEDAAF, for equipment and machinery purchases and a $50,000 grant from the county, to be spread out over five years, for training employees.
“Harford County is fortunate in this current economic climate where every state is vying to retain jobs, as well as create jobs, that our partnership with the State of Maryland has resulted in positive growth and retention,” McNulty continued. “The Harford County Office of Economic Development is pleased to attract a nationally recognized brand and to play a supporting role in the expansion of our critical distribution sector.”
A fiscal impact analysis from the Office of the County Auditor notes the company will receive from the state “a grant of $500,000 towards the eligible project expenses and various tax incentives,” while Harford County will provide workforce technical training grants over five years, not to exceed $10,000 in a single year. The state grant amounts to a $500,000 forgivable loan, provided certain conditions are met, county government spokesperson Cindy Mumby said Wednesday.
In exchange, the company is required to have 75 additional full-time hires by the end of 2017 for the term of the agreement.
“For a conservative estimate, we have assumed that 60 percent of its employees are Harford County residents and wages meet the agreement minimum,” the analysis states. “The new employees would generate approximately $20,000 in [local] income tax each year after they are employed.”
For more information read the full article in The Baltimore Sun.