6 June 2008
Why Pick Cannon Falls, Minnesota?
Posted under: FAQ .
Early in our search for the best locations for our initial operation, Cannon Falls, MN was suggested. Cannon Falls had property which had high potential, including an industrial park that is covered by the state sponsored JobZ Program (see also Terms).
A solid plan of action came from our preliminary meetings. The Cannon Falls Economic Development Agency became involved, as did the Community Development Council, a private organization that can financially support a local business. The Cannon Falls City Council approved the entire package being offered to Benchmark Ag on June 5, 2008.
Benchmark Ag is the beneficiary of a favorable land purchase in the industrial park. It is also receiving favorable financing for utility connections to the site.
The JobZ Program has a substantial benefit to Benchmark Ag including a sales tax savings, state and local property tax reduction, and job creation credits. Total savings will be over $1.3 million over the lifecycle of the program until 2015.
The total package of direct financial benefits to the Company from all these sources will most likely exceed $1.7 million. At this time we have not factored any of these benefits into our capital expenditures budget or projected financial statement.
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