Tyson Foods Plans Bowling Green, Kentucky, Manufacturing Complex
The company will build the plant in the Kentucky Transpark for production of Jimmy Dean and Wright Brand bacon. Company leaders anticipate construction will be complete in late 2023.
“We are excited to be a part of the Warren County and Kentucky communities that will help us continue to provide the iconic Wright Brand and Jimmy Dean products our consumers and customers desire,” said Noelle O’Mara, group president, prepared foods for Tyson Foods. “As people actively look to add more protein to their diets, Tyson is uniquely positioned as a category leader to meet that growing demand.”
The company, which is one of the world’s leading protein companies and produces a wide variety of pork, chicken and beef products for customers worldwide, has prepared foods operations in Claryville and poultry operations in Albany and Robards. In total, the company currently employs more than 3,900 people throughout Kentucky.
“Today, I am proud to announce one of the largest investments in Warren County’s history, and this is a community that has had no shortage of economic success in recent years,” Governor Andy Beshear said. “Tyson Foods has a longstanding presence in the commonwealth, and its leaders’ vision for the future will make the company a great fit for Bowling Green and the surrounding region.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $10 million in tax incentives based on the company’s investment of $355.19 million and annual targets of: Creation and maintenance of 450 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $28 including benefits across those jobs.
Additionally, KEDFA approved Tyson Foods for up to $3 million in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
“It was a pleasure to work with Tyson Foods officials and their consultants during their rigorous evaluation of our community,” added Ron Bunch, president and CEO of the Bowling Green Area Chamber of Commerce. “This commitment to create a multitude of quality jobs through a major investment by Tyson Foods is absolutely amazing. Additionally, I am confident that Tyson Foods will be an exceptional corporate citizen to our wonderful community. We look forward to this diversification of our economy and working with Tyson Foods to grow here well into the future.”
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
“TVA and Warren Rural Electric Cooperative Corp. (WRECC) congratulate Tyson Foods on its decision to establish operations and create hundreds of new jobs in Bowling Green,” said TVA Senior Vice President of Economic Development John Bradley. “Helping to attract and retain job opportunities and investment to the region is fundamental to TVA’s mission of service and we are proud to partner with the Kentucky Cabinet for Economic Development and the Bowling Green Area Chamber of Commerce to further that mission and support companies like Tyson Foods’ business success in the valley.”
In addition, Tyson Foods can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
2022 Top States for Doing Business Provide an Environment for Business Growth
Major Projects Embrace Wide Open Rural Spaces
2022 Top States Workforce Development Programs
To Cluster or Not to Cluster…That is the Question!
ESG: The New Metrics in Construction and Real Estate
Bright Spots of the Office Sector
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs