X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BATTLE CREEK, MI-The state has awarded a brownfield Single Business Tax credit to Kraft Foods North America for investments to be made in the Battle Creek Post Cerealsfacility. The tax credit will assist in upgrading the existing facility that has been in operation in Battle Creek since 1895.

The $76.2-million investment by Kraft Foods will include building reconstruction and renovation, site infrastructure improvements and the purchase of new, more efficient manufacturing equipment. The project will help Kraft upgrade obsolete buildings at the Post complex, and allow the building to stay open, state officials say.

The state approved a brownfield Single Business Tax Credit valued at up to $7.6 million for 10% of the eligible investment in the Kraft Foods expansion. The Battle Creek Brownfield Development Authority also authorized $1.5 million in tax increment financing. The city of Battle Creek will offer a 12-year, 50% abatement of all planned investment by Kraft.

The Kraft Foods Battle Creek facility is the largest ready-to-eat cereal manufacturing plant in the world, says Luis Viso, plant manager and regional manufacturing director for Kraft South/Great Lakes Area. It has survived while newer facilities in other states have beenconstructed with newer equipment and more efficient structural designs.

C.W. Post founded the facility, the oldest of Post Cereals facilities in NorthAmerica.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.