Food & Beverage

Mars plans $70 million reinvestment in U.S. manufacturing, new jobs

Mars Chocolate president: Expect this to be our 'biggest innovation ever'

Mars Chocolate North America is upping its investments in U.S. manufacturing and creating about 250 new jobs in the process, President Tracey Massey told CNBC on Thursday.

The company plans to reinvest $70 million in existing factories across the country. The move ensures that more than 95 percent of Mars' chocolate products for the U.S. are made here, according to the company's announcement.

Specifically, Mars will be producing more of its core M&M products, which are seeing "really good growth," and will focus on creating more varieties and flavors for its new Goodness Knows product, Massey said in an interview with "Power Lunch."

"We're family owned, privately held, [which] enables us to invest for the long term," she said. "Our philosophy is domestic manufacturing."

Mars' commitment comes at a time when President Donald Trump has made a push to revitalize the U.S. manufacturing industry. He has repeatedly threatened backlash for American companies that make products abroad and try and sell them at home.

Ford, General Motors and Fiat-Chrysler have made U.S. jobs announcements since Trump won the presidential election in November, and he has repeatedly touted their plans. However, many of those projects were in the works well before Trump won the presidency.

For Mars' part, Massey said Thursday's announcement is just reflective of what the company does, regardless of politics.

"This is just really one more year in 100 years," she said. "We'll be here next year, the year after. We were here last year. It's just what we do and we believe it's right. It has long-term benefits for our business."

Mars' latest move follows $1 billion in U.S. manufacturing investments over the past five years, which have added more than 1,000 American jobs, the company said.

— CNBC's Jacob Pramuk and Kerima Greene contributed to this report.