Friday, March 27, 2009

Schlotterbeck & Foss Looking for Money

I had no idea what the company was until I saw this Forescaster article. The are seeking Community Development Block Grant funds, though something seems odd about the situation. Of course I want business to stay in the City, but the numbers don't seem to add up. Have they been leasing the building since 1866?
"Bayside is a CDBG-qualifying low to moderate-income neighborhood. Schlotterbeck & Foss’ employees are also all low to moderate-income earners, according to the company’s application. Sixty-two percent of those employees live in Portland. The company has 48 temporary and 21 full-time employees.

The company makes condiments and sauces. “Our products are all-natural, organic, vegan,” Dioli said.

He said the company has experienced 130 percent growth in sales since 2004. But he said his lease cost is set to go up dramatically in the next three years. The building at 117 Preble St. was recently purchased by J.B. Brown and Dioli said the owner wants to turn the building into rental office space.

“I can’t afford the rent,” he said, without the benefit of reduced operating costs that the infrastructure improvements will provide."

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