Expansion will help create jobs, grow the economy
SPRINGFIELD – The Illinois Department of Commerce and Economic Opportunity (DCEO) today announced an approximately $576,000 investment package that will help Fox River Foods, a privately owned, broad line distributor, expand its operations. As a result of this assistance, the company will add 50 new jobs and maintain 25 jobs at its newly expanded facility in Montgomery, IL. The state’s investment will support millions in private investment by the company and comes as a part of the state’s comprehensive economic development strategy to create jobs and strengthen the Illinois economy.
“During these difficult economic times, our top priority as the state’s lead economic development agency is ensuring people have access to sustainable employment. The state’s investment in Fox River Foods is one way we’re helping to provide good paying jobs during a critical time and growing the economy,” said DCEO Director Warren Ribley.
Fox River Foods is constructing an approximately 45,000 sq. ft. freezer and cooler storage facility and 8,000 sq. ft. office space. The state’s assistance was critical to the company’s decision to expand their operations in Illinois instead of locating outside the state.
The business investment package, administered by DCEO, includes Economic Development for a Growing Economy (EDGE) corporate income tax credits which are based on job creation.
“Fox River Foods is pleased with the assistance from the DCEO and thanks the Department and the State if Illinois for the opportunity to expand our facility and continue to do business in the State of Illinois. We looked very hard at an opportunity in Missouri but with the assistance from the DCEO, Illinois is by far the best choice for our company. We expect to continue to grow as an Illinois company for many years because of the assistance we received from the state,” said Frank Karabetsos, Executive Vice President of Fox River Foods.