The Cheesecake Factory Incorporated will open a large-scale bakery to distribute its iconic desserts.
Charlestown, IN. (October 25, 2023)
Charlestown is welcoming a high-profile name to its community. The Cheesecake Factory Incorporated, an industry-leading restaurant, is opening a large bakery for manufacturing and distributing its iconic cheesecake and other desserts to operators, retailers, and distributors. The bakery and operations will be housed in the River Ridge Commerce Center and will invest over $74 million into the land, construction, machinery, fixtures, and IT. By 2025, the bakery and distribution operations should have more than 200 employees, making an average wage higher than the Clark County average.
The Cheesecake Factory, known for its extensive menu, is a leader in experiential dining. The company has more than 300 restaurants in the United States and Canada across its portfolio of concepts and operates two bakery facilities in the United States. They were named to the FORTUNE Magazine’s “100 Best Companies to Work For®” list for the 10th consecutive year in 2023. The bakery’s role is to produce high-quality cheesecake and desserts for the company’s restaurants and licensees as well as third-party customers.
“We are very pleased to locate our new bakery production facility in Charlestown, Indiana,” said David Overton, Founder, Chairman and CEO of The Cheesecake Factory Incorporated. “This year is the 51st anniversary of my parents opening the first Cheesecake Factory Bakery, and it also marks the 45th anniversary of opening our first restaurant in Beverly Hills. Over the last half-century our desserts have developed a reputation around the world, and we are so pleased that we’ll have a third bakery production facility to support our domestic and international growth into the future.”
Based on the company’s job creation plans, the Indiana Economic Development Corporation (IEDC) committed to an investment in The Cheesecake Factory Bakery of up to $2.6 million in the form of conditional tax credits and up to $100,000 in conditional training grants. These incentives are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and investments are made. River Ridge Commerce Center is also offering tax savings of approximately $6.3 million on real and personal property and will be making additional road improvements to support the project.
“Indiana’s strengths in agbioscience and manufacturing make our state the ideal destination to help companies like The Cheesecake Factory to develop products and serve customers across the country,” said Ann Lathrop, chief strategy officer at the IEDC. “As a state, we’re committed to advancing economic and community development in all communities across Indiana. This new investment will accelerate industry growth in Charlestown and the surrounding southeast Indiana region, creating new jobs and new opportunities for Hoosier families to prosper.”
“What an amazing opportunity for the City of Charlestown and the region,” said Mayor Treva Hodges. “We are excited to be the third production site for The Cheesecake Factory’s bakery operations, and can’t wait to see the community impact their investment will bring our growing area.
“This commitment by The Cheesecake Factory to bring its bakery production facility to River Ridge is a major moment for the commerce center and exemplifies the investment and rapid growth we’re creating on the Charlestown side of River Ridge,” said Jerry Acy, River Ridge Development Authority Executive Director. “It is truly a pleasure working with David Overton and his team at The Cheesecake Factory, I am proud of what this partnership brings to Southern Indiana and the region.”
“This is a huge win for the City of Charlestown and the Southern Indiana region,” added John Launius, Vice President and Director of Economic Development for One Southern Indiana. “It is exciting for us to be the newest home to a company with great name recognition and a stellar international reputation for service and quality. The company’s growth trajectory will benefit Southern Indiana families for decades to come.”
About The Cheesecake Factory Incorporated
The Cheesecake Factory is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. Delicious, memorable experiences created by passionate people – this defines who we are and where we are going. We currently own and operate 324 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia® and a collection within our Fox Restaurant Concepts business. Internationally, 31 The Cheesecake Factory® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. In 2023, we were named to the FORTUNE Magazine “100 Best Companies to Work For®” list for the tenth consecutive year. To learn more, visit www.thecheesecakefactory.com, www.northitalia.com and www.foxrc.com.
From Fortune ©2023 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 100 Best Companies to Work For are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, The Cheesecake Factory Incorporated.
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to help businesses innovate and thrive in the Southern Indiana / Louisville metro area via the three pillars of Business Resources, Economic Development and Advocacy. For more information on One Southern Indiana, visit www.1si.org.
Contact:
The Cheesecake Factory Incorporated
Investors
Etienne Marcus
818-871-3000
investorrelations@thecheesecakefactory.com