Today, the Utah Governor’s Office of Economic Opportunity and the Economic Development Corporation of Utah (EDCUtah) announced the establishment of a 339,000 sq. ft. baking facility by Nature’s Bakery in Salt Lake City. Nature’s Bakery projects to add over 190 jobs to its Utah location and invest $237,000,000 in the Utah facility.
The corporate incentive is a post-performance tax reduction as part of the state’s Economic Development Tax Increment Financing program. Under the incentive, the company projects adding 65 new, high-paying jobs and more than 190 jobs total during the next 10 years.
“We offer a warm welcome to Nature’s Bakery, a producer of wholesome, plant-based food that aligns with our state’s health-conscious lifestyle and love for outdoor activities,” said Ryan Starks, executive director of the Utah Governor’s Office of Economic Opportunity. “With Utah’s strong emphasis on well-being and sustainability, Nature’s Bakery’s offerings are poised to resonate with our communities. We look forward to the positive impact it will bring to our local economy, the creation of many jobs, and contribution to the flourishing food culture in Utah.”
Founded in 2011 and headquartered in Reno, Nevada, Nature’s Bakery, part of Mars, Incorporated family of brands, has become the eighth best-selling and fastest-growing granola and snack bar brand in a +$4B category. Nature’s Bakery bakes the goodness of real ingredients into convenient, on-the-go snacks that are plant-based, dairy-free, nut-free, and non-GMO Project Verified. Their products are sold nationally at Target, Walmart, Costco, and more, across 100,000 stores and counting.
“I am thrilled for our strategic expansion with the establishment of a cutting-edge baking facility in Salt Lake City,” shared Steve Gardiner, CEO of Nature’s Bakery. “This investment marks a significant milestone in our brand’s ability to drive greater capacity to meet growing consumer and retailer demand. As a self-manufacturer, this facility joins our existing bakeries to reflect our commitment to innovation and quality, and underscores our confidence in the thriving business environment of Utah. We look forward to contributing to the local economy, cultivating community, and creating job opportunities as we further our brand purpose of nourishing families and enabling them to thrive.”
To accelerate the growth of their better-for-you snacking platform, Nature’s Bakery has been part of the Mars family of companies since 2020. “This investment symbolizes our dedication to scaling our brands responsibly, upholding Mars’ pledge to be America’s prime destination for insurgent brands,” shared Juan Martin, Health & Wellness president at Mars, Incorporated.
“Nature’s Bakery’s investment is a reflection of Team Utah’s collaborative and thorough recruitment process, and we appreciate the close involvement from Utah’s community partners and utility providers,” said Scott Cuthbertson, president and CEO of EDCUtah. “We look forward to continuing to partner with Nature’s Bakery as they grow and prosper in Salt Lake City.”
“Salt Lake City is a premier destination for business, and we’re happy to welcome Nature’s Bakery to the community,” Salt Lake City Mayor Erin Mendenhall said. “With over 190 new high-quality jobs, businesses like Nature’s Bakery, which support the needs of our workforce, are an important part of growing the economy for our families. This is a win for Salt Lakers and everyone who loves to live, work, and play here.”
Nature’s Bakery’s new facility is scheduled to initiate operations in July 2025.
Tax Credit Projections
| Timeline: | 10 years |
| Jobs: | 65 |
| New state tax credit: | 20% |
Learn more about the state’s post-performance program here.
For media inquiries, please contact Hanna Teklu, senior director of marketing and communications at Nature’s Bakery, at hteklu@naturesbakery.com.