Kellogg Co. will invest $5.6 million and add 352 new jobs to begin production at the Wyoming facility it acquired earlier this year. Assistance offered through the Michigan Economic Development Corp. (MEDC) helped convince the company to choose Michigan over a competing site in Georgia.
The MEDC approved a Single Business Tax credit valued at more than $3.8 million over 10 years and an Economic Development Job Training (EDJT) grant valued at $176,000 to win the project. The city of Wyoming has also proposed a tax abatement worth an estimated $608,000 over 12 years.
"We're extremely pleased that our new Wyoming plant will be up and running soon, with more than 350 new Kellogg employees,” said Jim Jenness, chairman and CEO of Kellogg. “This is in large part due to the assistance of the State of Michigan and the Michigan Economic Development Corp. Michigan has been home to Kellogg's headquarters for nearly 100 years, and we're delighted to be expanding our operations with the addition of the Wyoming plant."
"The incentive package offered to Kellogg's today literally made this project possible," MEDC President and CEO James Epolito said. "This many good-paying manufacturing jobs are worth far more than the tax dollars that the state will forego. This is smart economic development."
With 2004 sales of almost $10 billion, Kellogg Co. is the world's leading producer of cereal and a leading producer of convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, meat alternatives, pie crusts, and ice cream cones.
