Bristol Twp: New Business

From the BCCT.

Board backs KOZ designation
A drug distribution company promises to pay the school district a minimum of $195,000 a year if it’s approved.
By JOAN HELLYER
STAFF WRITER

The Bristol Township school board is backing Express Scripts’ effort to have its new distribution center site designated a Keystone Opportunity Zone.

The board unanimously threw its support behind the proposal Monday night after representatives of the pharmaceutical company promised it would pay the school district a minimum $195,000 a year in lieu of taxes.

That’s about $15,000 more than what the school district receives in tax revenue from the site off Route 413 near I-95, board solicitor David Truelove said.

The drug distribution company wants to move next year from its current location in Bensalem into the 241,000 square-foot building off Rittenhouse Circle in Bristol Township that formerly housed Jones New York. The KOZ designation would provide the company with tax relief through 2020.

The township council threw its support behind the proposal last week. The company still needs to secure county and state approval for the site to receive the KOZ designation.

A KOZ generally allows companies to pay no property taxes on future development, but Express Scripts representatives promised the annual payment.

The company also would consider paying more if the property’s assessment called for taxes in excess of $195,000, said Paul Acker, Express Scripts senior director of operations and project manager.

If the designation is approved, Express Scripts will hire at least 60 new employees, company officials said.

The new hires would be a mix of pharmacists, pharmaceutical technicians, data entry and shipping department workers, Acker said.

Trying to calm board concerns before the vote, the company representative said he didn’t expect Express Scripts to pack up and leave Bristol Township once its KOZ designation expires.

“We don’t want to do that,” Acker said.