Baptista’s Bakery has received a $7.8m investment from Snyder's-Lance for renovations and new machinery and equipment at its Franklin, Wisconsin, factory, which will open up a further 125 employment opportunities.
The company will also receive $300,000 in state income tax credits from the Wisconsin Economic Development Corporation (WEDC) over the next three years, as long as it reaches its job creation target.
Founded in 1999, Baptista’s Bakery manufactures contract and private-label snack food, and is best known for pretzel crackers and tortilla chips. Snyder’s-Lance acquired the bakery in 2014.
According to WEDC's CEO, Mark Hogan, Baptista's has already invested more than $100m and doubled employment at its Franklin facility.
“We are pleased to assist the company in the next phase of its growth,” he said.
An economic modeling study conducted by WEDC estimates Baptista’s expansion could indirectly create 122 additional jobs in the region on top of the 125 at the factory. This could generate $2.5m in state income tax over a five-year period.
Production stays at home
Snyder’s-Lance has also decided to invest $20m for an upgrade of the "dated and over-crowded" Cape Cod Chips site in Barnstable, Massachusettes, according to a proposed plan filed with the Cape Cod Commission recently.
“Despite significant investments over the past eight years… portions of the structure are experiencing significant deterioration,” Snyder’s-Lance wrote in the proposal.
The redevelopment plan includes the construction of a 10,050-square-foot warehouse, as well as interior renovations and equipment upgrades.
“We look forward to working with Cape Cod Potato Chips and are pleased they have chosen to stay here in Barnstable,” Mike Trovato, an economic development specialist at the Barnstable Industrial site told BakeryandSnacks.