(Read more on the industrial market.)
BELOIT, WI-Kerry America, a maker of flavorings and ingredients for food and beverage manufacturers, is building a $45 million new headquarters/R&D facility here. The company, a division of the Ireland-based Kerry Group, is building the 250,000-sf facility on 124 acres at the intersection of Interstates 90 and 43.
Once completed, the facility will consolidate four separate Kerry operations in the city onto one campus, while increasing the company's workforce from 300 employees to 500. The company received about $10.5 million in financial incentives from the city and the state to help finance the project.
Kerry officials were not available for comment. However, in a press statement, company executives said the area is perfect because it gives access to Madison, WI and Milwaukee, as well as Chicago. "This is proof-positive that the I-39/I-90 corridor can supply the workforce and quality-of-life demanded by leading, international corporate headquarters," said Eric Voyles, VP of national business development for the Rockford Area Economic Development Council.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.