Great Lakes Cheese (GLC) and the City of Wausau in Wisconsin, US, have reached an agreement to build a new $55m cheese packaging plant in Wausau West Industrial Park.

Under the agreement, the City of Wausau will contribute $5.9m in tax incentives in the form of a ten-year reverse tax increment financing (TIF) agreement to help negate construction costs.

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GLC has agreed to donate the property where its current plant is located on DeVoe Street to the City of Wausau.

A groundbreaking ceremony for the new facility is expected to occur later this month.

GLC project manager Matt Wilkinson said: “We are grateful to the City of Wausau for its significant contribution to our project.

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"This assistance makes it possible for GLC to remain in Wausau, where our cheese business has a 90-year history."

“This assistance makes it possible for GLC to remain in Wausau, where our cheese business has a 90-year history.”

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Since the acquisition of Lemke Cheese & Packaging in 2003, GLC has made significant investments in the DeVoe Street plant, which employs more than 200 people.

The new facility is expected to provide a substantial number of construction jobs.

After its completion, GLC aims to add nearly 125 new jobs at the site within three years.

GLC CEO Dan Zagzebski said: “It is part of GLC's culture to take a long-term approach to every business decision.

“We think in terms of generations, not quarters. Looking through a long-term lens allows us to focus not only on what will make us more competitive, but also on what's right for our employees and our communities.”

Established in 1958, GLC currently owns nine plants across five US states.