Word: fritos
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TIME can. Based on reports published when Jonesboro was recruiting Frito-Lay, and on more recent information obtained from other sources, TIME estimates the value of the Frito-Lay aid package at more than $10 million. And that is in addition to $104.7 million in industrial-development revenue bonds issued by the city of Jonesboro to build and equip the potato-chip plant. The other incentives include the 140-acre plant site, a rail spur, road improvements, a construction grant, tax credits for new employees and a 20% discount on sewer bills for the next 15 years. That sewage-treatment...
City water in Jonesboro, Ark., doesn't stink. In fact, even wastewater flowing out of the big, new Frito-Lay plant there runs through an expanded treatment facility in order to minimize environmental problems. That expansion was part of a multimillion-dollar incentive package the AEDC gave Frito-Lay to lure the company to Jonesboro. Frito-Lay is not exactly needy. It is a profitable subsidiary of PepsiCo Inc., the giant soft-drink and snack-food company that had sales of $20.9 billion...
Jonesboro got its plant after the community and state agreed to enlarge the sewage-treatment facility and provide an array of other economic incentives. Exactly how much aid was pumped into Frito-Lay to build the plant is not easy to find out. A Frito-Lay representative said the information was "proprietary." An AEDC representative, Michaela Johnson, was equally secretive, saying, "That whole project's confidential. We can't divulge that...
...University of Dayton, a private Catholic college in Ohio, he was less worried about getting in than about how his family would come up with the more than $20,000 a year it was going to cost. Thomas Wartmann, Christopher's dad and a route salesman in the Frito-Lay division of PepsiCo, earned just $38,000 last year, and Christopher's mother Eva earned $17,000 as a tennis coordinator at a country club. They faced a challenge common to the families of more than a million aspiring college students each year: how to pay the tuition, room...
...soft-drink promotion worldwide, and spent an ugly summer in a nonstop price war. Moreover, Pepsi has its own formidable general in Roger Enrico, as well as a new game plan. Enrico recently spun off Pepsi's capital-consuming restaurant division to focus on businesses that add more value: Frito-Lay snack foods and Pepsi. Sound familiar? Pepsi can now open another front in the cola wars--probably in the fountain business, where it has been weak. "Pepsi has not been that strong of a competitor [in this segment]. Coke has pretty much had a free run, and that...