Cook County Tax Incentives Help 126-Year Old Company Create 40 Jobs
Cook County Board President Toni Preckwinkle today visited Gonnella Baking Company’s newly expanded facility made possible by a Class 6B tax credit that kept the company from moving outside of Cook County, which it has called home for more than a century.
Founded in the City of Chicago in 1886, Gonnella Baking Company has been a leading manufacturer of bread in the Chicago metropolitan area for more than 125 years. The 30,000-square-feet expansion of the suburban Schaumburg facility brought with it 40 full-time jobs.
At a news conference held at the newly expanded facility, President Preckwinkle said she hopes more businesses follow Gonnella’s example and remain in Cook County.
“By working with businesses to provide tax incentives, we are able to create and keep jobs while helping important, family-owned companies like Gonnella grow right here in Cook County,” said President Preckwinkle. “This is part of our broader effort to encourage the residents of Cook County to support our local companies, while centralizing the resources at the County’s disposal to provide incentives for businesses and create jobs.”
Gonnella Baking Company President Nick Marcucci says the tax incentives provided by Cook County were a significant component in keeping the facility in Cook County.
“We were considering expanding our facility outside of Cook County, but the incentives provided by President Preckwinkle’s administration tipped the scales in favor of the Schaumburg location,” Marcucci said. “President Preckwinkle and her economic development team understand the critical importance of strengthening the region by helping local businesses create and keep jobs.”
The “Commit to Cook” campaign, which launched in February of this year, encourages residents to support Cook County businesses while engaging the business community to spur economic development. President Preckwinkle laid out an ambitious goal of 2,500 new jobs in 2012. As of April 2012, the County’s Bureau of Economic Development has incentivized more than 1,200 created or retained jobs in Cook County.
Preckwinkle also rolled out a website in conjunction with “Commit to Cook” aimed at helping local businesses engage the County’s Bureau of Economic Development. The website includes information on tax incentives, zoning restrictions, collaborative grant opportunities and workforce development activities in one, centralized location.