Nestle May Receive R&D Grant for Sderot

The multinational food corporation Nestle S.A. has submitted a grant request to the Ministry of Industry and Trade's Investment Center to establish a $5.6 million global R&D center for snack foods in Sderot.

The multinational food corporation Nestle S.A. has submitted a grant request to the Ministry of Industry and Trade's Investment Center to establish a $5.6 million global research and development center for snack foods in Sderot.Companies that invest in national priority A areas like Sderot are entitled to a grant of 24 percent of their total investment. The investment center is expected to authorize the grant next week. Nestle plans to invest $2.4 million in a 1,700-meter facility and $3.2 million in equipment. The Swiss based corporation plans to hire nine workers directly and dozens of others indirectly. The research and development center will receive logistic services from Sderot's Osem factory. Nestl? is the controlling shareholder in Osem.