BLOOMINGTON (WEEK) – Tax incentives were a key factor in convincing Ferrero to build its first North American chocolate factory in Bloomington, according to the head of the Bloomington-Normal Economic Development Council.
Patrick Hoban said when area governments last spring amended the enterprise zone to include Ferrero, it meant the Italian firm would not have to pay local and state sales taxes on building materials.
Ferrero is the third largest confectionary company in the world. It acquired the candy factory on Beich (BIKE) Road in Bloomington when it purchased Nestle’s U.S. confectionary business two years ago.
Hoban said Ferrero chose Bloomington over locations in Canada and Mexico for the $75 million expansion. The company plans to hire about 50 more employees to work in the chocolate factory.