The company exports sausages and other prepared meat and sells 85% to 90% of its products to global markets.
After the former Morrell plant is demolished, Global Foods will be the first tenant in a new business park the city plans to develop. The subsidiary of Smithfield, Va.-based Smithfield Foods closed the plant in April 2010, eliminating more than 1,400 jobs.
Smithfield Foods has agreed to give the 23-acre site to the city, Sioux City officials said. The City Council is expected to formally accept the deed to the property on March 7.