Pretzels, Inc. is the leading contract manufacturer of baked pretzel and extruded corn snacks for companies all around the United States.

McGuire Sponsel, Ernst & Morris announce strategic merger

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McGuire Sponsel has named Ben Worrell project manager, assisting the company’s site selection practice.

Columbus-based Tipton Mills Foods will invest $4 million to construct a new warehouse in addition to its existing 45,000-square-foot plant. The new facility will double Tipton Mills’ production.

Opportunity zones represent the first new tax incentive for private capital in low-income communities since the creation of the new markets tax credit (NMTC) in 2000.

Indianapolis, IN. – Governor Eric Holcomb this week signed in to law House Bill 1002, strengthening and increasing the funding for Employer Workforce Grants under the Next Level Jobs Program. The bill increased overall funding for the program to $10M annually while increasing the per employee benefit and annual maximum employer benefits to $5,000 and $50,000 respectively.

BOWLING GREEN, Ky. – Pink Lily today announced plans to expand its headquarters and fulfillment center in Bowling Green, including investments totaling more than $2 million expected to create 56 jobs. Pink Lily began operations as a Facebook Group in 2013 selling a limited selection of women’s boutique clothing and accessories to the Bowling Green market and has since grown into a $50 million e-commerce business.

INDIANAPOLIS – Powderkeg today announced plans to expand in central Indiana including the creation of nearly 40 jobs by 2022. With more than 10,000 members across the U.S., Powderkeg will continue to improve its Powderkeg Member Platform, which is a subscription-based service that utilizes technology to connect founders, investors and advisors.

The economy across the US is experiencing dynamic growth. With business investment increasing, states are in hot pursuit of impactful businesses. Kentucky is surrounded by highly competitive states with attractive business environments. What is the Bluegrass State doing to tip the scales in its favor?

Client Profile
Pretzels, Inc. is the leading contract manufacturer of baked pretzel and extruded corn snacks for companies all around the United States. Pretzels, Inc. provides snack food manufacturing and white label packaging solutions for its clients. Pretzels, Inc. utilizes state of the art bakery technology ensuring consistent and high quality taste, texture, freshness, and timeliness. Finally, Pretzels, Inc. in Plymouth, Indiana is the largest producer of peanut butter filled pretzel products in the western United States.

The Challenge
Pretzels, Inc. is located in Plymouth and Bluffton, Indiana. Pretzels, Inc. had a facility previously located in Pennsylvania, however due to an industrial fire, lost the facility and required Pretzels to establish the brand new facility in Plymouth in 2017. Since then, Pretzels, Inc. has continued to increase demand for its products and services. Now, Pretzels, Inc. was faced with an option to continue to grow its facility in Indiana or locate a new facility within the western portion of the country to meet market demands. A new or expanded facility would require millions of dollars in new equipment and nearly 200 new employees.

Study Results
Pretzels, Inc. hired McGuire Sponsel to negotiate and procure economic incentives on their behalf in support of the company’s considered expansion/relocation. McGuire Sponsel assisted Pretzels, Inc. with a financial analysis for multiple sites including Indiana and Kansas. McGuire Sponsel negotiated and worked with the Indiana Economic Development Corporation (IEDC), Marshall County Economic Development, and the City of Plymouth, Indiana to procure tax credits and incentives to assist with the establishment of an expanded operation in Plymouth, Indiana. The company, with the guidance and collaboration of McGuire Sponsel’s Credits and Incentives team, requested and received EDGE tax credits from the State of Indiana as well as tax increment financing (TIF) bonds from the City of Plymouth. These incentives will assist with the expansion of the current Pretzels, Inc. facility, new industrial oven lines for production and projected job growth in excess of 150+ new employees.

State and Local Incentives
$1,300,000 Economic Development for a Growing Economy (EDGE) Tax Credit
$14,000,000+ Tax Increment Financing (TIF) bonds
$445,500 Economic Development Rider discounts from local utility
$15,745,500 Total Incentives