PepsiCo And Theo Muller Plan $206 Million Yogurt Manufacturing Plant In New York State
The manufacturing facility at the Genesee Valley Agri-Business Park will be the first production plant for the joint venture, Wave LLC, creating 186 manufacturing and support jobs, New York Governor Andrew Cuomo said.
"This project demonstrates that leading international companies like PepsiCo and Müller see New York as a premier place to invest and the natural choice for their first venture into the yogurt business. With over $200 million in private investment and nearly 200 new jobs, this opportunity is another strong boost to the region's growing dairy industry," said Governor Cuomo.
PepsiCo's investment continues a recent trend of major yogurt producers opening manufacturing facilities in upstate New York. The state currently has 29 yogurt plants, which employ more than 2,000 people and produced a total of 530 million pounds of yogurt in 2011, the Governor added.
New York State, through Empire State Development, will provide the company with $3.3 million in Excelsior Jobs Program tax credits, as well as $1 million from New York State Homes and Community Renewal and $10 million in Investment Tax Credits. Genesee County will also provide an estimated $12 million in sales and property tax savings.
Wave considered other locations both in and outside of New York State. After a thorough evaluation, including an assessment of access to dairy resources, water supply and distribution routes to key markets, the company chose Batavia, New York. While the facility is being developed over two years, Wave may import Müller products in order to establish a foothold in the fast-growing U.S. yogurt business, Empire State Development officials said.
Empire State Development President and CEO Kenneth Adams said, "New York is working hard to be a global leader in the kind of high-growth manufacturing that has critical economic development and job creating potential. Wave is a strong example of our work and the leadership of Governor Cuomo paying off in the form of new jobs and significant private investment from a leading overseas company that will have a resounding impact on the local economy."
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