Title
Public Hearing for a Resolution Authorizing an Economic Development Incentive to Lollytogs LTD in an Amount Not to Exceed $1,662,333
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
Department: Planning
Council District: 2
Public Hearing: May 4, 2021
Advertising Date/By: April 22, 2021, Peacemaker
Contact 1 and Phone: David Parrish, 373-2002
Contact 2 and Phone: Kimberly Sowell, 373-7753
PURPOSE:
The City of Greensboro has been requested to consider an economic development incentive grant in an amount not to exceed $1,662,333 for Lollytogs LTD. The grant is for the purposes of making real property improvements, purchasing new equipment, and creating jobs.
BACKGROUND:
Lollytogs LTD, a privately owned incorporated company doing business as LT Apparel Group, designs, sources and markets children's apparel and accessories for a portfolio of licensed and owned name brands such as French Toast, Carhartt for Kids, and Adidas Kids. The business, headquartered in New York City, was launched in 1958 with the mission to produce durable, well-styled clothing at a value price. It sells its products through a variety of distribution outlets that include department stores, discount retailers, and independent fashion outlets. Product marketed by LT Apparel Group is available at thousands of retail locations nationwide. The company currently employs 34 individuals at an existing location in Greensboro in product management and design services.
LT Apparel Group is exploring establishing a new warehouse and distribution facility of approximately 800,000 sq. ft in the United States and is considering a location for such a facility within the City of Greensboro on N. Summit Avenue immediately adjacent to a designated Impact Zone. The company is also considering a location in South Carolina. The projected investment will consist of approximately $57,300,000 in real property and personal property (including...
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