Cargill will undertake a significant expansion of its soybean oil production facility near Fayetteville, North Carolina. The company will invest $5 million in real estate improvements and $20 million in new personal property at the Cumberland County plant.
Headquartered in Minneapolis, Minnesota, the soybean oil manufacturing business has been on River Road outside Fayetteville since 1970.
“Our plant in Cumberland County is an important link in the supply chain for North Carolina farmers and livestock producers, and these investments will help us serve customers more efficiently,” said Don Camden, vice president, Cargill Agricultural Supply Chain North America. “Cargill is committed to nourishing the world in a safe, responsible, sustainable way. We are part of the community and are proud to provide significant support for a number of organizations in the area funding nutrition and education programming projects, as well as COVID-19 relief.”
The 6-year performance-based incentive grant will provide Cargill $600,000 to support their operations. The project, set to begin before the end of 2021, will generate tax revenue and increased economic activity which will offset the incentive. Additionally, this investment will help maintain the 70 jobs currently at the site, which have average salaries of $70,000 a year, well above Cumberland County’s average wage.
“While we are always excited to bring new companies to our community, our top goal is to help existing businesses grow and flourish,” added Fayetteville Cumberland County EDC Chairman Andrew Pennink. “We are grateful for Cargill’s continued commitment to our community, and we look forward to celebrating more economic wins in 2021.”