Westin Plans $10 Million Expansion

By Reagan ConnellyAt the Jefferson County Commissioners meeting on Tuesday, May 10, Westin Foods requested that the county act as a conduit issuer for industrial revenue bonds for a $10 million expansion.“This expansion will allow for us to continue to grow here in Fairbury,” Ronald Schacht, General Manager for Westin Foods, said. “Fairbury and Jefferson County have been very good to us in the past 50 years and letting us continue our growth and we’re excited about continuing our growth in Fairbury.”There will be 13 thousand square feet of additional space built on the west end, and will include expanding the company’s Ready to Eat room. This will allow for more packaging space to package products, said Schacht.Schacht said the infrastructure and electrical for this addition has already been put underground. Next week Westin will begin digging footings.It will also include new equipment for the packaging rooms. Schacht said this new equipment will be user friendly and use a higher technology and take out some of the redundancy and bending over in the packaging process.The debt will be placed on First National Bank of Omaha as the purchaser of the bonds. Jefferson County will have no liability and will incur no debt, said Tobin Buckanan, a director for First National Capital Markets in Kearney. The payback responsibility for the debts will be solely that of Westin Foods.This debt will not count against Jefferson County’s bank qualification if the county should seek the issuance of any other bonds this calendar year, said Buckanan.In order for this type of financing to go forward on a tax-exempt basis it would have to be issued by a government body, said Steven Likes, an attorney for Kutack Rock LLP in Omaha. “Jefferson County is authorized to do this type of financing,” Likes said.One of the requirements under the code allowing Jefferson County to approve the financing is that there must be a TEFRA hearing (Tax Equity and Fiscal Responsibility Act).“It’s just a straight forward public hearing where we give the public the opportunity to come forward and speak,” Likes said. There will be a seven-day publication notice of the hearing.Likes said after the hearing the county board will be asked to approve a resolution authorizing the issuance of the bonds.Although there will be some parameters in the agreement with the county board, the final terms of the bonds will be determined between First National and Westin, Likes said. He then added they will draft documents to be approved by the county commissioners as needed.Although Schacht said it is a little too premature as of yet to say whether this expansion will include hiring more employees, he did admit that even now the company is looking for employees.“What this will do is make a better work environment so hopefully it will help us attract. There will be higher tech positions. So hopefully it will help us continue to attract labor to Westin,” Schacht added.

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