Chobani, the yogurt company that grew from nothing five years ago to a roughly $1 billion powerhouse today, on Monday will formally open one of the world’s largest yogurt-processing plants in Twin Falls, Idaho.

“I’m so excited,” said Hamdi Ulukaya, founder and chief executive of Chobani. “I’ve been waiting for this moment for so long.”

The $450 million, 1 million square-foot plant is the company’s second. It will employ 300 people, and Mr. Ulukaya said for every 10 jobs it creates directly, it is expected to create roughly 66 additional jobs in ancillary businesses. “The state expects the total economic impact of our business there to be $1.3 billion,” he said.

In exchange, Chobani qualified for a variety of state tax incentives, including property tax exemption and credit off tax liabilities. Idaho’s position as one of the country’s largest milk producers and the transportation network around Twin Falls also were attractions, Mr. Ulukaya said.