The Paris Economic Development Corporation (PEDC) announced yesterday that as of August 15, 2014 J. Skinner Baking has satisfied all obligations with respect to a $2M bridge loan.
The bridge loan was originally provided to J. Skinner Baking, Paris Texas Plant, by the PEDC in September 2012.
Steve Grubbs (pictured right) Chairman of the PEDC Board said “I truly feel that the relationship with J. Skinner is another example of how the Paris EDC is working with local business and industry to bring jobs to Paris.”
He continues, “J. Skinner continues to do exactly what they said they would do when they elected to expand their operations into Paris, Texas and the fact that they satisfied their obligation a full month early is an indication of the type of employer and corporate citizen they are.”
In December 2012, J. Skinner Baking indicated that the new plant expansion would bring 393 new jobs to Paris along with $25M in capital investment. Shawn Bushouse, CFO for J. Skinner said “The company is well positioned to meet or exceed those expectations. J.Skinner’s expansion in Paris has been very successful.”
J. Skinner Baking is a privately-held, family-owned company that provides baked good for the retail trade for over two decades.