NSRGY - Nestle to expand pet food factory in Georgia

Nestle (NSRGY) plans to invest $550M to expand a recently completed factory in northeast Georgia. The Hartwell plant, which opened in November of last year, makes Fancy Feast and other wet pet food. Nestle spokeswoman Tiffany Gildehaus said the expansion will allow the company to make Friskies brand cat food there and also increase the size of its warehouse.The company has already broken ground and Gildehaus said construction is targeted for completion by the end of 2021. Sweetening the deal, Nestle will qualify for a state income tax credit that allows the company to deduct $1,750 per job from its Georgia income taxes for five years, worth up to $1.1M. For Nestle to qualify for tax credits, workers must make at least $28,000 a year.Nestle's growth marks are slightly behind those of peers.

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Nestle to expand pet food factory in Georgia