ESD approves $1.5M for Chobani

NEW BERLIN – Greek yogurt manufacturer Chobani will receive a $1,500,000 grant to retain and create new jobs in its local production facility. Empire State Development’s Board of Directors met Wednesday in New York City and approved funding totaling $9,353,424 to create 1,220 new jobs and retain 731 existing jobs in New York State, including the approval of three Regional Council priority projects for the Central New York, Capital Region and Mid-Hudson regions. The funding will leverage over $142.5 million in investments across the state.

Chobani Inc., an internationally recognized yogurt manufacturer and the number one seller of Greek-style yogurt in the U.S., has been awarded a grant of up to $1,500,000 to be used for a portion of the cost associated with the acquisition and installation of new machinery and equipment. The company has made significant investments in people, plant and equipment to support growth, with approximately $115 million invested in property and plant improvements alone over the past five years. Chobani approached ESD in early 2011 for financial assistance to conduct a major investment in machinery and equipment needed to meet consumer demand, and in response ESD proposed a $1,500,000 capital grant for the acquisition and installation of new machinery and equipment and $8,500,000 through the Excelsior Jobs Tax Credits Program.

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