Food-Processing Firm Plans New Plant
PSC Foodservices Inc. plans to build a $2.8 million food-processing plant on the West Plains, underwritten in part by industrial revenue bonds.
According to information filed with the Industrial Development Corp. of Spokane County, the 80,000-square-foot facility would allow PSC to add 50 employees to its work force of 100.
The corporation will hold a hearing March 28 on a $1.7 million bond issue to help finance the project, which will be built at the intersection of Thorpe and Grove roads.
The company is now located at 919 E. Trent.
PSC chops and bags vegetables for sale in supermarkets and use by hospitals, restaurants and other food-service operations.
If issued, the bonds are not liabilities of the county. They will be secured by a deed of trust and an assignment of loan repayments.
But industrial bonds typically give the companies using them about a 2 percent break on interest rates.
The public hearing will be held in the Spokane County Public Works Building at W1026 Broadway, starting at 5 p.m. March 28.