Local Company in York Expands to Promote Economic Growth

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Local Company in York Expands to Promote Economic Growth

Since 1946, the locally owned and operated York Cold Storage Co. stored frozen foods, packaged pet food, and other goods. By 2008, the local owners were ready to retire. The company was also facing several critical issues, including the need to continue strong leadership in the area of accessing global markets. If the company was to survive, badly needed facility upgrades were necessary. Without the upgrades, a potential 40 jobs to the city and surrounding area would be lost, as the company was forced to close.

While looking to the City for guidance and possible assistance, General Manager Adam Broughton contacted the Nebraska Department of Economic Development (DED) about a Community Development Block Grant (CDBG) funded purchase and expansion.

This project involved many entities working together, including leaders of York Cold Storage Co., city officials and managing directors of Great West-Teeuwissen, LLC. The $4 million project costs included $329,000 in new CDBG funds from DED, $171,000 from the City of York’s revolving loan fund, and $3.5 million from private lenders.

The local community really came together to support this project. The City revolving loan fund had been identified as a local source of funds early on in the process; however, the size and scope of the buy-out needed a high level of other leverage funds. Positive feedback concerning the buy-out of this important local company and the CDBG funding was given at public meetings and a public hearing on the project.

Since the project started in late 2008, there have been many benefits to York and the surrounding area. York Cold Storage Co. had always provided jobs for people living throughout the area, and this CDBG project helped retain 40 jobs. By the end of 2010, the company had even recorded growth, employing 53 full-time workers.