SPRINGDALE, Ark. – Tyson Foods Inc. was awarded tax incentives to expand the company’s processing facility in Storm Lake, Iowa.
The board approved incentives related to a new $30 million improvement project at the company’s Storm Lake pork plant that will improve production and ensure product quality.
Improvement projects include expansion of the plant’s refrigeration area, which is used to chill pig carcasses before processing into pork cuts. Tyson said the expansion would add about 40,000 sq. ft. to the 250,000-sq.-ft. plant and will enable the facility to increase its overall production capacity.
“The planned improvements reflect Tyson Fresh Meats’ continuing support of the region’s independent pig farmers, who are very important to the continued success of the Storm Lake plant,” the company said in a statement. “The company spent more than $800 million in fiscal 2015 to buy hogs from independent farmers to supply the plant.”
Construction on the expansion is expected to be complete by late 2017.The Storm Lake plant employs more than 2,000 workers and generates an annual payroll of $86 million. The expansion is expected to create an additional eight jobs.