Sweet Return For Mars Inc. to the US
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
American chocolate manufacturer Mars Inc. has announced plans to build a brand new “state-of-the-art” chocolate manufacturing facility in Topeka, Kansas – its first such site in the US for over 35 years.
The company – known worldwide for numerous confectionary products such as the eponymous Mars Bar, M&Ms, Snickers and Skittles – expects the new facility to be completed by late 2013, by which time it should create more than 1,000 jobs for Kansas residents.
American chocolate manufacturer Mars Inc. has announced plans to build a brand new “state-of-the-art” chocolate manufacturing facility in Topeka, Kansas – its first such site in the US for over 35 years.
The company – known worldwide for numerous confectionary products such as the eponymous Mars Bar, M&Ms, Snickers and Skittles – expects the new facility to be completed by late 2013, by which time it should create more than 1,000 jobs for Kansas residents.
Speaking during an event at Washburn University’s Bradbury Thompson Alumni Center, Mike Wittman, Vice-President of Supply at Mars Chocolate North America Mars Inc., unveiled plans for a 350,000 square feet facility that will cost up to US$250 million to build.
[quote]”The site will be a reflection of our commitment to manufacture our products in the markets where we sell them,” Wittman said. “Mars looks forward to becoming an important part of the Topeka community.”[/quote]Kansas Governor Sam Brownback also expressed his delight at Mars Inc.’s decision to relocate its manufacturing facility back to the US, describing the decision as “a delicious day for Topeka and the people of Kansas.”
“The decision to build this new Mars facility in Topeka demonstrates that Kansas can compete and win in the global business world.”
Multiple economic incentives presented Mars Inc. with the ideal conditions to build its facility in Topeka.
Go Topeka, a subsidiary of the Topeka Chamber of Commerce’s, put together a US$9.1 million incentive package in order to attract Mars Inc. to the community.
Besides providing Mars Inc. with 190 acres of land to build its facility, Go Topeka’s incentive package also included a performance-based job creation bonus, waivers for building permits and utility connections, as well as multiple cash incentives for work force development and sustainability allocation.
Mars Inc. also stated that the declining US dollar exchange rate coupled with its desire to ship its products at a quicker rate, gave the company ample incentive to re-open a facility in the US after a prolonged period of absence.
Go Topeka’s Senior Vice President Steve Jenkins described the project as the “most significant economic development for Topeka and Shawnee County in many decades.”
[quote]”The positive economic impact for the community will endure for decades… Mars will join a long list of other stellar primary employers in our community creating exceptional economic opportunities for our residents.”[/quote]Story from PR Newswire