Nestle is now in line to earn half of the $4 million in local grants Arlington promised the company in exchange for moving to Rosslyn, after meeting the county’s targets to qualify for the incentives.
In all, the packaged food giant will receive $12 million in cash and infrastructure improvements after agreeing to relocate its corporate headquarters to 1812 N. Moore Street last February. But the money did come with some strings attached, forcing the company to prove that it will create 748 new jobs with an average annual salary of $127,719 in the county and lease at least 205,000 square feet of office space by the time 2020 arrives.
Only $4 million will come from the county itself, through a “Economic Development Incentive” grant, while a $6 million state grant and $2 million in nearby infrastructure construction round out Arlington’s deal with Nestle. Even still, the grants have become a hot-button political issue around the county, with plenty of observers questioning whether the incentive money might’ve been better spent elsewhere.
So far, at least, the company seems to be holding up its end of the bargain. According to documents released through a Freedom of Information Act request, Nestle has created and maintained 358 new jobs at the Rosslyn office, and has leased 229,000 square feet of space in Rosslyn through June 30. Daniel Nugent, chief legal officer and general counsel for the company, signed a July 18 affidavit attesting to those statistics.
That means the company has well exceeded its office space requirement to earn the grant money, but fell just short of the 374 new jobs it needed to create by the time June 30 rolled around.
However, Cara O’Donnell, a spokeswoman for Arlington Economic Development, noted that the company only needed to hit 90 percent of the grant’s requirements to earn the money. Accordingly, the county will now release $2 million to Nestle.
“This year, Nestle achieved 95 percent of its new jobs target and 111 percent of its facility lease target, well above the 90 percent required in each category,” O’Donnell told ARLnow. “They are currently meeting targets as required.”
Josh Morton, a spokesman for Nestle, added that the discrepancy in the job figure is because “the number is always changing as more people are hired in Arlington.” In July and August alone, he says the company hired another 125 employees.
Though she generally remains “skeptical” of such relocation incentives, County Board Chair Katie Cristol thinks “it’s great, but not a surprise to know that Nestle is performing consistently with those expectations.” She attributes that to the work of county staff to “develop an incredibly conservative incentives program where we can see a very clear and really significant return on investment in any incentive we make.”
“We’re not going to do something speculative where we’re giving away the public’s money without a lot of confidence that we’ll see that money return to us well in orders of magnitude beyond what we invested,” Cristol said.
Cristol is well aware what kind of controversy the Nestle incentives kicked up after the Board approved them last year, and how the prospect of similar grants going to Amazon to bring HQ2 to Arlington has roiled the community.
So while she does remain “a little uneasy” about the prospect of “a community like Arlington, that has so much else to offer, seeking to offer cash incentives,” Cristol thinks the Nestle deal does show that these grants can work, if managed properly.
“We’re delighted to have Nestle here, they’ve been a great partner in the community already,” Cristol said. “And in the long term sense… we’re going to be really gimlet-eyed about continuing to look at all over those targets and looking at the return on investment over the life of any deal we put together.”
Nestle will next report back to the county on July 15, 2019 to affirm that it’s indeed created all 748 jobs it promised for the Rosslyn office.
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Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
Located in National Landing, these performance-based camps are designed for students of all ages – no theater or performance experience required.
Led by professional teaching artists, campers learn acting, movement, and technical theater skills through the lens of Physical Theater. Physical Theater incorporates acting, movement, dance, mime, and acrobatics. If you’ve seen a Cirque du Soleil performance, you’ll find many similarities.
Most first-time campers are new to the performing arts, and teaching artists are well-versed in engaging students at all levels. Parents and campers report that one of the best parts of Synetic is the community, with many families returning year after year because they feel a strong sense of belonging.
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and
District 27 Toastmasters 2023 Virtual Conference
District 27 Toastmasters invites you to its annual conference where you can hear phenomenal speakers, attend professional development and personal growth seminars about leadership, negotiation, communication, teamwork, and mentorship. Learn how to develop your personal story and how to improve