Olympia Foods

New Markets Tax Credit Coalition

Franklin Park,
IL
(2014)

Olympia Foods

Business Development, Food Manufacturing, Manufacturing

The renovation of a vacant 125,000 sq. ft. industrial facility previously used by a food manufacturer that halted operations in 2012 and laid off all 200 full-time employees.

Investment

NMTC Amount: $7,840,000
Total Project Cost: $25,450,000

IMPACT

60 FTE jobs
80 construction jobs
All new jobs are quality jobs providing living wages and employee benefits. Project included environmental cleanup.
125,000 sq. ft. of real estate

CDEs

SCORE

Investor

PNC

Project Description

The Olympia Foods Project involved the renovation of a vacant 125,000 sq. ft. industrial facility previously used by a food manufacturer that halted operations in 2012 and laid off all 200 full-time employees. The new facility was brought up to Olympia Foods’s operating standards and outfitted for the production of pita and gyro products. SCORE NMTCs supported the addition of a 35,000 sq. ft. freezer and dry storage space and the necessary equipment upgrades. The facility was able to restore 120 quality jobs to the severely distressed community, which had experienced an unemployment rate two-times the national average.

MAP

Address: 9501 Nevada Avenue, Franklin Park, IL 60131

Census Tract: 17031811302

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