Vanilla Caramels

2 cups heavy cream
½ cup condensed milk
2 cups light corn syrup
½ cup water
2 cups granulated sugar
½ cup (1 stick) softened butter, cut into small cubes.

Prepare 9x9 pan by lining it with parchment. Alternatively, line the pan with foil and spray with non-stick spray.

Combine cream and condensed milk in small saucepan and place on burner set to the lowest heat setting. You want the milk and cream to be warm, but do not allow it to boil.

In medium large saucepan, combine the corn syrup, water, and granulated sugar over medium-high heat. Stir until the sugar dissolves. Use a wet pastry brush to wash down the sides of the pan to prevent sugar crystals from forming, which will make the candy grainy.

Insert candy thermometer and reduce heat to medium. Allow the mixture to come to a boil and cook until the thermometer reads 250 degrees.

Add the softened butter chunks and the warm milk mixture. The temperature should go down about 30 degrees.

Continue to cook, stirring constantly, so the bottom does not scorch. Cook until the thermometer reads 244 and the caramel is a dark golden brown.

Remove from heat and immediately pour into the prepared pan. Do not scrape candy from the bottom of the saucepan. Allow the candy to sit overnight. It will set up and develop a smooth, silky texture.

Place a piece of waxed paper on counter and lift the caramel from the pan using the paper (or foil) as handles. Flip the top of the caramel onto the waxed paper and peel the paper (or foil) layer from the bottom of the caramel.

Spray a large knife with nonstick cooking spray. Cut into the caramel, creating 1-inch squares. Wipe the blade and re-spray as necessary.

Wrap the squares in waxed paper. The caramels will gradually spread and lose their square shape if not wrapped soon after cutting. Alternately, you can dip them in chocolate once they are cut.

Store the caramels at room temperature for up to two weeks.