Economy
STATE: Cadbury dips out of $16 million grant for Tasmanian factory upgrade. FT on the brink …
Chocolate maker Cadbury has withdrawn its application for a $16 million grant from the Federal Government to upgrade its Hobart factory because it had failed to meet certain requirements.
The factory, operated by Mondelez International, was promised the funding injection by Prime Minister Tony Abbott during his 2013 election campaign.
The funding was to go towards a $66 million upgrade of the facility in the northern Hobart suburb of Claremont, with the company contributing $50 million.
It was to be spent on a new visitor centre to allow Cadbury’s famous factory tours to resume.
But Mondelez spokeswoman Amanda Banfield said the company could not meet government conditions attached to the grant, including growing production volumes by 20 per cent.
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