Inside Arizona's Nestle Deal: The cream rises to the top in Glendale
Phoenix Business Journal
More than a year after international food behemoth Nestle purchased land and announced plans to open a $675 million, 150-acre facility in Glendale to produce the company's iconic Coffee Mate and Starbucks creamer brands, the nuance and details behind the deal highlight the deft touch needed to bring blockbuster projects to fruition.
The project at the 1,340-acre Woolf Logistics Center at Northern Parkway near Reems Road received support from Gov. Doug Ducey and continued a banner year for Glendale, which already landed millions of square feet in industrial projects that included Mark Anthony Brewing, the maker of White Claw, and an expansion of Red Bull/Rauch North America Inc.
Both the city and Maricopa County also gave their support to create a Foreign Trade Zone site on Nestle's property, which is a popular way for Valley cities to attract business and could qualify Nestle's site for a 71 percent annual reduction in property taxes. The Arizona Commerce Authority said Nestle could also receive $7 million in state incentives for investment and job creation. MORE