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Council OKs preliminary terms of grant to new owner of Kum & Go


The Des Moines City Council this week approved preliminary terms of an urban development agreement with FJ Management Inc., which plans on opening a regional headquarters in downtown Des Moines. FJ Management, which owns Maverik convenience stores, recently acquired the Kum & Go chain and Solar Transport, both of which had been owned by Krause Group. Chuck Maggelet, CEO and chief adventure guide for Utah-based Maverik – Adventure’s First Stop, previously had told the Business Record the company planned on opening a regional headquarters in the Des Moines area. FJ Management plans on leasing about 40,000 square feet of space at 1100 Locust St., in a building owned by Nationwide Insurance Co. The preliminary agreement between the city and FJ Management calls for the company to maintain at least 250 jobs for a minimum of 10 years. In addition, employees would receive an average annual salary of $98,000 and be required to work in the office at least three days a week. In exchange, the city would provide FJ Management a $250,000 economic development grant, paid in $25,000 increments over 10 years. The council, without comment, approved the preliminary terms of the agreement at its meeting earlier this week.

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