Dec. 15, 2003: IDA Agrees to Acquire
Nestle Plant, Accepts Purchase Offer
The County of Oswego Industrial Development
Agency voted unanimously today to acquire the former Nestle plant
in Fulton from Nestle USA for $100.
At the same meeting, a purchase offer from
New York Chocolate and Confections Company was accepted to acquire
the Nestle property from the IDA.
The anticipated closing date for both transactions
is Friday, Dec. 19.
New York Chocolate and Confections Company,
a consortium of cocoa suppliers from the Ivory Coast, plan to manufacture
bulk chocolate at the plant. The Fulton Chocolate Company plans
to produce low-carbohydrate and private label candy bars and would
be leasing approximately 250,000 square feet of the plant. The combined
employment of the two companies is anticipated to be over 570 within
the first three years in business.
“This is an exciting step toward continuing
the tradition of chocolate production in Fulton and re-establishing
much needed jobs, not only for the two investor groups looking to
manufacture chocolate at the plant, but also for the City of Fulton
and the Oswego County community,” said Carolyn Rush, IDA chairwoman.
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