While one of its largest employers is downsizing, new businesses could be coming to Greenville.
JanSports’ parent company, VF Corporation, announced Tuesday that it is selling its licensed sports group business to Fanatics Incorporated, which will result in the loss of 380 jobs. The cuts are expected to start in June. VF Corp. also announced Wednesday that the JanSport Factory Store in Appleton will close.
The company has committed to keeping its VF Outdoor operation in Appleton.
While he says VF’s actions will have a negative effect on the local economy, Greenville Town Chairman Jack Anderson notes not everything is bleak. Anderson says the town board recently approved the creation of the town’s first Tax Incremental Financing District, which reallocates property tax funds collected in a given area for development purposes.
While no companies have fully committed to the project at this point, Anderson says town officials are in talks with multiple businesses. Anderson feels the TIF District will benefit the town by allowing it to compete with neighboring municipalities when new businesses look at the area. He expects engineering work could wrap up this year with shovels hitting the ground in 2018.
Anderson says the TIF District is located roughly one-half mile north of JanSport.