Kerry Group investment: $55 million, 220 jobs

From The St. Louis Business Journal. Friday, August 15, 2008
By Christopher Tritto

When Irish food ingredient maker Kerry Group PLC bought a former Nestle candy plant in Affton in October 2006, company executives and St. Louis County officials touted the firm's plan to invest $10 million in the facility and create 40 new jobs.

Today the plan has grown fivefold. With $55 million in facility upgrades and new equipment purchases under way and a projected 220 jobs to be created, the Kerry deal has far exceeded original expectations.

To support the effort, the Missouri Development Finance Board, chaired by Lt. Gov. Peter Kinder, approved a final resolution at its June 18 meeting that authorized $1,036,000 in Missouri BUILD tax credits to finance a portion of the costs of the Kerry project.