Kraft Heinz — the city’s largest employer — is expanding and the city of Kirksville will provide financing.
It’s a 33 million dollar deal to improve storage at the factory and add high tech equipment.
Under the financing plan — which is a bit complex — the city will basically act as a bank — borrowing the money for the new equipment. Kraft Heinz will then lease the equipment from the city, while getting a break on property taxes for the expansion project.
So it’s considered a win-win to help with industrial growth. The project will create about 50 new jobs.