A major juice importer at the Port of Wilmington gets $15.5 million in stimulus bond money from New Castle County.
A major juice importer at the Port of Wilmington will get $15.5 million in stimulus facility bond money from New Castle County.
Citrosuco North America Inc. will use the money to build more apple juice storage tanks at the port. The expansion is expected to create 21 new jobs and more than $100,000 in new income for the port. The project, set to be complete by September, would also create 120 construction jobs.
“We’re pleased to support businesses like Citrosuco and use our federal stimulus dollars to put people to work here at home,” County Executive Chris Coons said.
Citrosuco has been at the Port of Wilmington since 1984 and operates four tanker vessels that bring orange juice concentrate to the port eight to 10 times a year. The expansion would make Citrosuco the largest port-side juice tank farm in the U.S.
County Council approved the funding Tuesday night. Now, private investors can get better interest rates than through regular financing.