Tuesday, June 23, 2009
Michigan Commercial Bakery Investing $60 Million for Expansion
Roskam Baking Company, a producer of cereal, snacks and dry baking mixes for major food companies, will invest $60.5 million to expand its facility in Kentwood, Michigan, according to the Michigan governor's office. The project is expected to create at least 1,500 new direct jobs and approximately 1,600 construction jobs over the next five years; the Grand Rapids Press reports that the direct jobs will pay an average of $12.73 per hour plus benefits. The company plans to add new production lines to accommodate increased manufacturing contracts with new and existing customers. The state is offering Roskam a $20.1 million tax credit over the next 10 years; the Press reports that the company must invest at least $25 million and maintain a minimum of 1,000 new jobs by the sixth year of the deal in order to retain the tax breaks. The city is also expected to provide property tax abatements.
Posted by Place Marketing Group at 10:08 PM