At its regular meeting held on October 18, the Board of County Commissioners conceptually approved an economic development ad valorem tax exemption of $1.7 million over a seven-year period for Florida South Division, LLC.
The company plans to develop a regional headquarters and distribution center in Royal Palm Beach to serve ALDI, Inc. discount grocery stores opening in South Florida.
Plans include construction of a $43 million facility and creation of 100 new full-time jobs over a three-year period at an average annual salary of $46,100.
According to an analysis by the county’s Economic Development Office, this project will have a $112.5 million economic impact over a five-year period.
ALDI, Inc. operates more than 1,000 stores in 31 states, with nearly 95 percent of the company’s premium products sold under its own label at prices 40 percent lower than traditional grocery retailers.
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