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German candy maker Haribo on Thursday announced plans to build its first U.S. manufacturing facility.

The company will purchase a site in Kenosha County, WI — located along the Illinois border and about 40 miles north of Chicago — and intends to begin production in 2020.

The maker of Gold-Bears and other gummy candies said that the project will be "one of the largest facilities in the confectionery industry." Wisconsin Gov. Scott Walker told reporters at a press conference Thursday that Haribo plans to invest $242 million in the plant and create 400 jobs.

"The decision to build a manufacturing facility in Wisconsin is of great importance for the Haribo Group," said managing partner Hans Guido Riegel. " Haribo of America is the fastest growing sugar confectionery business in the U.S.A., hence the strategic importance of our manufacturing facility to commence production in 2020."

The Wisconsin Economic Development Corporation continues to discuss possible incentives for the project, according to a statement from Gov. Scott Walker's office.

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