SALT LAKE CITY — Just hours after the Governor's Office of Economic Development board approved an incentive for the Lofthouse Bakery Products cookie manufacturer in Ogden to expand, the company decided to take the bite.
St. Louis-based Ralcorp Holdings Inc., which owns Lofthouse and also manufactures Post cereals, chose to expand the Ogden facility over a Seattle facility, GOED spokesman Michael Sullivan said.
In a prepared statement, the president of Ralcorp Frozen Bakery Products, Charles Huber Jr., said the expansion will enable the production of frozen waffles and pancakes. The company plans to add 115 new, full-time jobs with benefits.
"Having the state's and the city's support on this project reflects our shared interests in strengthening the local community," he said.
The jobs are planned to generate $15 million in new state wages over the life of the incentive — five years — and $692,000 in new state revenue.
Lofthouse is located at the Business Depot Ogden and plans to invest $22.5 million in real estate and personal property.
The incentive is capped at $138,434 in the form of a tax rebate based on corporate income taxes, payroll taxes and sales taxes on purchases made in Utah.
"What we do is look at those three areas, after they've hired the employees and have paid those three (taxes)," Sullivan said. "And so there's no taking of taxes from your pocket and giving it to them and hoping they'll do it."
Lofthouse was started by a group of investors in 1994 in a 500-square-foot space. Ralcorp Holdings bought the company, and Lofthouse is part of the frozen bakery products division. Lofthouse now makes 70 million pounds of cookies a year.
e-mail: firstname.lastname@example.org TWITTER: laurahancock