Mars Snacking, Maker Of M&m's, Plans To Add 600 Jobs In Chicago

Mars Snacking plans to invest $100 million to expand its global headquarters in Chicago and create more than 600 jobs.

Mars Snacking, a division of Virginia-based Mars, announced the investment Wednesday with Gov. JB Pritzker. The company will receive about $43 million in tax incentives, as part of the state's Economic Development for a Growing Economy program.

The deal comes three months after Mars, maker of M&M's and Snickers, finalized its acquisition of Chicago-based snack company Kellanova, whose portfolio includes popular brands like Pringles, Pop-Tarts and Cheez-Its.

In addition to its global headquarters in Goose Island, Mars Snacking said it would add its North American regional office at Fulton Labs, 400 N. Aberdeen St. Its accelerator division will open a new global office at Kellanova's former headquarters in River North.

“Chicago has long been a hub for our business, and now it is our official home for our North America region and our Accelerator Division — firmly establishing our legacy and our future together,” Andrew Clarke, global president of Mars Snacking, said in a news release. “The Chicagoland area offers the best of all worlds for Mars Snacking — a vibrant urban environment, strong communities and access to world-class talent. We are proud to deepen our roots here, advance the Mars Snacking business, and continue our long-standing commitment to community engagement and responsible business.”

Its $100 million investment will be for project costs such as site renovations, purchasing buildings, and research and development costs, according to the EDGE agreement.

Seventeen employees are slated to join the Fulton Market office and 585 employees will join its Goose Island location, according to the agreement. The company has until Dec. 27, 2027, to hire the 602 employees.

Mars Snacking is required to retain a minimum of 562 employees whose jobs are “directly related to the project,” the agreement said.

The tax breaks are also contingent on Mars Snacking retaining at least 2,347 existing full-time employees in Illinois before it can claim tax credits for the new jobs. The company currently employs 4,000 people in the Chicago area, according to a news release.

The EDGE agreement dictates that if Mars Snacking shuts down operations within the first five years of receiving tax credits, the company may be required to refund the state.

The company is eligible for tax credits for 15 consecutive years, according to the agreement. The annual credits are typically determined by the incremental income tax withheld from new employees’ pay. And Mars Snacking can receive extra tax credits of up to 25% of the income tax withheld from the retained employees.

The state will also offer a credit worth 10% of the training costs for new employees.

“Illinois continues to prove that it’s the right place for companies that want to grow and compete globally,” Pritzker said in the release. “Mars Snacking’s decision to expand its footprint in Chicago reflects the strength of our state’s workforce, infrastructure and business environment. We’re proud that a company with such an iconic portfolio is building on its history here, creating opportunity for Illinois families and strengthening our economy.”