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German firm Haribo could receive $21M in Wisconsin tax credits

Wednesday, August 23, 2017   (0 Comments)
Business Journal

MaryBeth Matzek

 

 

Candy maker Haribo could receive up to $21 million in performance-based state income tax credits from the Wisconsin Economic Development Corp. for its planned $242 million Kenosha County manufacturing facility.

Haribo, the German-based maker of the popular "Goldbear” gummy candies, will earn the credits through 2028 based on the number of jobs created and how much the company spends on capital investment, employee training and buying equipment, goods and services from Wisconsin companies.

In March, Haribo selected Pleasant Prairie as the site of its first North American manufacturing facility. The company’s North American headquarters is in Rosemont, Ill.

"Haribo’s decision to locate right here in Wisconsin as its first manufacturing facility in North America is further evidence that our reforms are working and will help provide hundreds of family supporting jobs in Wisconsin,” said Gov. Scott Walker in a news release.

The company is in negotiations with the village of Pleasant Prairie to secure the property in the proposed Prairie Highlands Corporate Park on the northwest corner of County Highway Q and Interstate 94. The new 500,000-square-foot facility is expected to be complete in 2020.

In addition to the 385 jobs expected to be created by Haribo in Pleasant Prairie, an economic modeling study estimates the expansion could indirectly generate 381 additional permanent jobs in the region. Those 766 new jobs could generate up to $8.4 million in state income tax revenue over a five-year period, the study said.

"Having a global company like Haribo establish operations here will have a significant economic impact on Kenosha County, southeastern Wisconsin and the entire state,” Mark Hogan, secretary and CEO of WEDC, said in the news release.


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