City of York Receives CDBG Funds for York Cold Storage Expansion
4 Jun 2015
Business Expansion, announcement,
FOR IMMEDIATE RELEASE
City of York awarded $267,955 to assist with local business expansion.
JUNE 4, 2015 —The Nebraska Department of Economic Development has awarded the City of York $267,955 in Community Development Block Grant (CDBG) funding to assist Great West—Teeuwissen, LLC, d/b/a York Cold Storage I, LLC, with an expansion of its operations. The project will create 10 full-time jobs in addition to maintaining its existing 65 full-time employees.
The City of York will contribute $87,045 in CDBG Program Income funds for a total $355,000 CDBG award. Of this amount, $5,000 will go to the City to be used for administrative-related expenses. The $350,000 will be conditionally granted to Southeast Nebraska Development, Inc., a non-profit development organization, which, in turn, will make a loan to the company.
York Cold Storage I, LLC, is a bonded cold food storage warehousing facility that is rented out to customers and a food-processing facility in York. The company will use the funding to purchase and install new equipment, and update its cold storage facility. It is a wholly-owned subsidiary of Great West-Teeuwissen, LLC, acquired in 2008.
“York Cold Storage has been a great corporate citizen for years, providing substantial jobs for many in the community,” said Governor Pete Ricketts. “So we are pleased to be able to provide financial assistance that allows them to move toward accomplishing their notable growth and expansion goals.”
Great West, LLC, was established in 1980 as a meat and meat by-products trading company specializing in beef, pork and poultry for the pet food industry. Teeuwissen Products, based in The Netherlands, approached Great West in 2008 and a 50/50 joint venture in the United States was created, combining the expertise of both groups.
An additional $2 million loan from U.S. Bank will complete the project.
Federal funds are made available to Nebraska from the U.S. Department of Housing and Urban Development's CDBG program, which assists with the development of businesses and communities throughout the state.
York County Development Corporation staff provided assistance to the business through the process. Lisa Hurley, YCDC Executive Director said, "This project is a win for York County. We are pleased to see Great West—Teeuwissen, LLC, d/b/a York Cold Storage I, LLC, invest in the York location to make it a more competetive facility".