Giant Badia Spices to expand
Written by Lidia Dinkova on November 19, 2014
Badia Spices Inc. – a spice manufacturer whose products can be found on the shelves in Publix, Walmart, Winn-Dixie and other markets – wants to open a second distribution facility to meet growing product demand.
The Doral-based company wants to open a 101,000-square-foot distribution hub on 5.6 acres at 9880 NW 25th St., also in Doral and near its existing manufacturing and distribution operations.
According to Miami-Dade records, Badia has reported increasing sales of its products, which include spices and teas. The 2013 sales were about $102 million, 14% more than in 2012. In addition to US markets, Badia exports to Central America.
To finance expansion, Badia has turned to Miami-Dade’s Industrial Development Authority. Badia has applied for a $10.5 million bond issue by the authority, which is separate from county government and issues bonds on behalf of projects deemed economically beneficial.
As a check on the authority, the county commission also must sign off on the bond issuance. The commission’s Finance Committee gave tentative approval and bond issuance is headed for a full commission vote.
If approved, this $10.5 million bond issue would be taxable and paid off from Badia’s revenues.
Badia Spices also financed its existing facilities through industrial development revenue bond issues in an aggregate $16 million, parts of which went to finance the acquisition and rehabilitation of Badia’s manufacturing facility and the purchase of additional equipment, county records show.
The proposed distribution facility is expected to create about 20 jobs.
Said James Wagner, executive director of the Industrial Development Authority in Miami-Dade County, about Badia’s plans: “Any community would die to have an operation like that.”