Business  |  Tax Incentives


Nestle R&D Center, Inc. & Nestle Prepared Foods Company
Agreement #083-12-01
Zone 083


Agreement Information

Community: SOLON      ODOD Status: Active
County: CUYAHOGA      Agrmt Date: 11/14/2012
Local School District:      Amend. Date:
Nature of Business: research and development      Expiration Date: 12/31/2022
School Comp Agreement: Yes      Revenue Sharing: No
Estimated Annual School Compensation SIC Code: 541990

Real Property

Acquisition Improvements New Construction Total
Investments $0.00 $0.00 $34,000,000.00 $34,000,000.00
Exemptions $0.00 $14,450,000.00 $14,450,000.00
 

Personal Property

M & E F & F Inventory Total
Investments $14,000,000.00 $2,000,000.00 $0.00 $16,000,000.00
Exemptions $0.00 $0.00 $0.00 $0.00
 

Incentives

Variable Rate Rate Term
Real No $43.00% 6 yrs
Personal No $0.00% 0 yrs
 

Relocations

From Out of State: No State: Jobs:
In State: No Community: Jobs:
Waiver Issued by ODOD: None
 

Employment

Existing Employment Job and Payroll Commitments
Employment at site: 75      Number Payroll
Employment in Ohio: 377      Retained 75 $7,221,000.00
     Fulltime Permanent 41 $4,891,000.00
     Fulltime Temporary 0 $0.00
     Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 60 months
 

Performance/Compliance

 
Agreement Status is: Active
Total full time equivalents at Site: 117      Cumulative Taxes
Jobs Created: 42 Real Property Taxes Paid: $1,013.00
Jobs Retained: 75 Real Property Taxes Forgone: $55.00
Total FTE in Ohio: $117.00 Personal Property Taxes Paid: $0.00
New Payroll: $6,249,389.00 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid:
Real Property: $56,186,477.00 Other Tax Incentives: $0.00
Personal Property: $9,317,478.00 TIRC Date: 8/20/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $1,013.00 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $55.00
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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