Butter a 9 x 13 inch glass baking dish, or cover a 9 x 13 inch pan with foil and spray well with cooking spray. Combine all ingredients in a heavy-bottomed sauce pan or dutch oven (minimum 4 quarts).

Cook over medium heat, stir occasionally, until all ingredients are well combined and the mixture comes to a rolling boil. Insert a candy thermometer into the pan and continue cooking over medium heat until thermometer registers 245 degrees F. If using the ice water method, the mixture should form a firm ball.

Using a pair of tongs, remove the vanilla bean. Pour the mixture into your prepared pan. Allow to cool completely before cutting with a buttered knife. Wrap the caramels in waxed paper, parchment paper or plastic wrap and store in the refrigerator.