Kroger, the Cincinnati-based grocer, is planning a $70 million distribution location in Boone County that it says will reduce cost and ease capacity concerns within the company’s regional logistics network.
The company plans to purchase a local building to distribute thousands of items to more than 1,000 stores regionally.
The project is expected to create 90 full-time jobs at an average annual salary of $38,000.
Kroger had requested a percentage reduction in the state ad valorem tax rate on the industrial building and equipment proposed to be financed through the issuance of industrial revenue bonds.
The Kentucky Economic Development Finance Authority board approved the reduction on Thursday, with payments to be made by the company in lieu of taxes to the Boone County school district and the Florence fire district, extension district, health district and library district.