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Tax Credit To Help Build $76-Mil Kraft Plant

BATTLE CREEK, MI-The company is renovating the 106-year-old Post Cereal complex, which includes obsolete buildings. It is getting 10% of the costs paid by a state brownfield Single Business Tax credit for redevelopment.

By Robert Carr | Updated on September 24, 2001

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.

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