Wisconsin will give candy maker Haribo up to $21 million in incentives for locating its new plant in Pleasant Prairie, the Wisconsin Economic Development Corp. said Wednesday.

The incentives are in the form of credits against Haribo's state income tax bills through 2028. The company will receive them based largely on the size of its capital investment here, as well as on the number of jobs it creates, its purchases from Wisconsin companies and the amount it spends on employee training.

The credits are "refundable." If Haribo meets the requirements but doesn't owe state taxes, or owes less than the incentive amount, it will receive a check for the difference. The company likely will be getting checks. Wisconsin waives almost all taxes on manufacturing profits.

To be eligible for the money, Haribo must invest $220 million in the plant, maintain the full-time jobs it creates through 2028, and meet other requirements.

Haribo expects to employ 385 people at a new, 500,000-square-foot factory in Kenosha County. The contract with WEDC calls for the company to hire 50 full-time employees by the end of 2019 and add 50 to 80 a year through 2024. The jobs must pay more than $30,000 annually.

An economic modeling study said the Haribo factory, in turn, could spawn another 381 permanent jobs elsewhere in the region, WEDC said.

All told, the 766 potential new jobs could generate up to $8.4 million in state income tax revenue over five years, the WEDC said.

Based in Bonn, Germany, and known for originating the gummy bear, Haribo chose Pleasant Prairie as the site of its first North American candy factory. The plans were announced in March, not long before Foxconn Technology Group began zeroing in on southeastern Wisconsin as the site for a gigantic electronics factory that could employ as many as 13,000.

Haribo will locate west of I-94, on part of a 460-acre site Pleasant Prairie bought from Abbott Labs in May for $37.5 million and will turn into a business park, with streets, utilities and other improvements to be financed through a tax incremental finance district. TIF districts work by using the taxes generated by new development to pay off the loans issued to fund infrastructure such as new streets.

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Part of the park, in turn, is to be sold to Haribo, which would not receive any other local incentives.

The company has nearly 7,000 employees worldwide who produce 100 million gummy bears a day.