Peco Foods expansion prompts real estate boom
With 1,000 new jobs anticipated, dash for agricultural, commercial and investment properties ensues
Ever since Peco Foods revealed plans on March 10 to build a new fully-integrated poultry complex in northeastern Arkansas, real estate in the area has been in high demand. The demand for property includes land to build poultry houses to serve the new Peco Foods poultry plant, as well as commercial and residential properties to serve the potential Peco Foods workforce.
The new Peco Foods poultry complex - to be located in Randolph and Clay counties in Arkansas -- will include a hatchery, feed mill and processing plant. An estimated 1,000 jobs are expected to be added as a result of the Peco Foods expansion.
"People have been calling for investment property, commercial property and land for chicken houses," Realtor Jana Caldwell told reporters from KAIT. "We're talking about 1,000 new jobs in the Pocahontas area. When that happens we're going to need more of everything."
Construction of the new Peco Foods complex will begin in two phases. Groundbreaking on the Peco Foods feed mill site is set for April and the first stages of work on the hatchery and processing plant site will begin in July.
Peco Foods has a presence in Arkansas since 2011 when the company acquired the Townsends poultry complex in Batesville. In addition to the Batesville facility, Peco operates a feed mill in Newark, Ark. Through such acquisitions and expansions, Peco has grown to become the eighth largest poultry producer in the United States, processing about 24 million pounds of poultry each week.