Papa John's Gets Tax Incentives For Cobb County HQ
Papa John's has been delivered a hot and fresh tax incentive.
The Development Authority of Cobb County approved a $13M revenue bond for Papa John's, the country's fourth-largest pizza chain, which is moving its corporate headquarters from Louisville, Kentucky.
The deal with the development authority, which approved the bond in a 4-2 vote, will allow Papa John's to abate taxes on office finishes, furniture and equipment at its new headquarters space at The Battery at Truist Park, The Atlanta Journal-Constitution reported.
The authority also approved a plan for Papa John's to transfer the title of its property to the authority itself — known as a bond-for-title transaction — allowing the pizza giant to gradually pay the full amount of its property taxes over the course of an unspecified number of years, the AJC reported.
“It's just good for The Battery area. It's good for Cobb County,” Development Authority of Cobb County Vice Chairman Donna Rowe told the AJC.
The incentives come three months after Papa John's announced that it was moving its headquarters to Three Ballpark Center, a 306K SF office building at Truist Park's 2.5M SF mixed-use campus that also is home to Thyssenkrupp Elevators America's North American headquarters.
Board members John C. Bradbury and Karen Hallacy voted against the bonds. Bradbury said the incentive package wasn't necessary since Papa John's already made a decision to locate the headquarters to The Battery.
"I was not convinced this investment would not happen without incentives,” he told the AJC.
