TN Preps for $67 Million Expansion of Mars NA Chocolate Plant
In Cleveland, TN, Mars Chocolate North America is putting the groundwork in place to ramp up production of pretzel M&Ms. The McLean, VA-based manufacturer of pet foods, confections, and other consumable goods is considering the Cleveland City Council’s pending property tax exemption as incentive to expand operations in the region.
Randall Higgins of TimesFreePress.com writes,
Terms of the agreement, known as a payment in lieu of taxes, include an annual payment of 50% of the property taxes otherwise due until December 31, 2018.
According to the company, that agreement still means an annual payment of $652,588 to Bradley County and $542,755 to the city of Cleveland over the seven-year period.
The new production line would add 38 jobs at the plant, which currently employs 493 workers.
You might like:
- Feature Story: Georgia Governor’s Report – Georgia’s High-Powered Growth Engine 2805 Views
- Business Facilities’ 11th Annual Rankings Report: Metro and Global Rankings 1649 Views
- Business Facilities’ 2015 Metro Rankings Report: Austin, Nashville, Raleigh Are Metro Frontrunners 1518 Views
- Business Facilities’ 2015 Metro Rankings Report: Indiana Metros Are Exports Leaders 1505 Views
- Business Facilities’ 2015 Global Rankings Report: China Leads In Renewable Energy Investment 1477 Views