Citing the precarious financial position of New Orleans, the City Council on Thursday unanimously voted to deny the Folgers Coffee Company six industrial tax exemptions.
Despite the vote, City Council members were quick to make their point that they were not singling out Folgers for any wrong doing:
“Folgers have not done anything wrong… …I have come to bury Folgers… …Folgers, they’re a great company… …This is really not an indictment of Folgers.”
As New Orleans continues to face an unprecedented financial crisis and economic downturn due to the COVID-19 pandemic, the Council has concluded that the benefits outlined by Folgers are insufficient in outweighing the City's dire need for tax revenue.
Folgers has operated a roasting and processing plant in New Orleans since 1960.
A few year ago the company consolidated all of its coffee roasting and canning operations into the New Orleans facility and expanded the plant, which has been employment and economic boost to troubled New Orleans East.
In their absolving of Folgers of any supposed wrong doing, Council members lauded the company’s efforts at improving the community through their good works at tree planting, housing improvements and renovations of properties.
The tax exemptions are awarded to companies which choose to locate and build in the state.
But municipalities do have the discretion to approve or deny industrial tax exemptions.
