Expansion Management - Helping Companies Evaluate Future Locations EMInfo.org





 
News Home   News Archive   Search News  

  Means the article is accessible only to our magazine subscribers.

Farbest Foods to Expand Operations in Indiana

HUNTINGBURG, Ind. (April 5, 2006) — Among the incentives offered to the company were up to $775,000 over 10 years in Economic Development for a Growing Economy (EDGE) Tax Credits.

  [ 4/5/2006 ]  By: NEWS BRIEF   Related Link...  Print This Article  Reprint/License This Article  

Farbest Foods, Inc, an integrated turkey production company, is expanding operations in Huntingburg with the support and assistance of the Indiana Economic Development Corp., Indiana State Department of Agriculture, the city of Huntingburg, and Dubois County. The company will add approximately 200 new jobs to its current labor force of 450.

To meet the increasing demand for turkey products from the domestic and international markets, Farbest Foods plans to build a new distribution center, in addition to their existing operations.

Farbest Foods is working with local turkey growers from Indiana and Illinois to grow three million additional turkeys to meet the increasing demand. JFS Milling Inc., a local feed mill operation, will add a third shift to its workforce in order to procure the feed for expected new turkey production facilities.

“The state of Indiana’s proactive stance on developing its agriculture base made this expansion possible,” said Farbest Foods President Ted Seger. “The combination of assistance from the IEDC and ISDA, Dubois County and the city of Huntingburg, along with an excellent base of current growers, suppliers and employees, will help provide Farbest with an efficient process to continue to serve its customers with the highest quality turkey products.”

Dubois County Railroad, along with the Dubois County Area Development Corp. and local officials, were involved with guaranteeing rail access and other infrastructure needs.

The economic development incentives offered by the IEDC include:

Up to $45,500 in training funds from the Skills Enhancement Fund (SEF) to train Indiana resident employees;

Up to $775,000 over 10 years in Economic Development for a Growing Economy (EDGE) Tax Credits;

Approximately 2 percent of the company’s qualified investment through the Hoosier Business Investment (HBI) tax credit program; and

Up to $475,000 in assistance with off-site infrastructure improvements needed to serve the site through the Industrial Development Grant Fund (IDGF).

Farbest Food’s expansion will result in a $66 million in domestic and international sales, $8 million in payments for new turkey growers, and $20 million in payments to local Indiana farmers for increased feed production.

 



 
Expansion Management TV