GREENSBORO — A children's apparel company with product design and marketing offices in Greensboro wants to build a $57 million warehouse and has asked the city and the county for a total of nearly $3.5 million in economic development incentives.
Lollytogs LTD, which does business as LT Apparel, said it is considering several locations for the warehouse and needs the incentives before it will choose a city.
The company makes it own lines of children's apparel and school uniforms as well as clothing under the Adidas, Carhartt and French Toast brands.
Lollytogs has said it will create 116 jobs at the warehouse before the end of 2026 and the incentives would reimburse 80% of the property tax increase for six years after the company has made the investment and created the jobs, according to a resolution released Friday by the city.
The City Council will hold a public hearing on the request for $1.66 million today at its regular 5:30 p.m. business meeting.
The Guilford County Board of Commissioners will consider a similar request of $1.83 million at its business meeting Thursday at 5:30 p.m.
The company would build the warehouse on North Summit Avenue if it chooses Greensboro from other cities it is considering in the United States, the resolution says.
If the city grants the incentive, it will require the company to pay the 116 workers at least $15 an hour with an average annual wage at the warehouse of $46,021.
The incentive would be paid in six consecutive installments after the investment is made and the new jobs are created, the resolution said.
The city's resolution also says that if the company does not retain those jobs through the six-year incentive payment period, the city has provisions to "recapture" the incentive.
Lollytogs says on its website that it is a privately-held, 60-year-old company.
In 2015, then Greensboro-based VF Corp. sold its Healthtex brand to Lollytogs.
Lollytogs hired some of of VF’s employees and kept Healthtex’s administrative offices in Greensboro.
VF has since moved its headquarters to Denver.
Contact Richard M. Barron at 336-373-7371 and follow @BarronBizNR on Twitter.