The city recently spent $20 million in Federal funds to buy property as well as infrastructure and road work. Minority-owned Quality Croutons, now located at 825 W. 37th St. in the Bridgeport neighborhood, will buy a 9.5-acre industrial site for $103,455, about 12.5% of the value of the land. The company also will apply for a Cook County Class 6(b) property tax reduction, which lowers tax assessments for up to 12 years, and an industrial revenue bond.
The payoff to the city is 100 more jobs in the new plant when it is completed in late 2003. The company, which was formed in 1986 to provide croutons for the McDonald's Corp., now has 40 employees. It also serves the Burger King, Wendy's, Pizza Hut, Houston's and Denny's restaurant chains.
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