Tyson awarded tax perks for Iowa pork plant expansion
Eight new jobs result in Iowa Economic Development Authority tax breaks.
Tyson Fresh Meats was awarded tax incentives by the Iowa Economic Development Authority (IEDA) board. The award came in recognition of local job creation that will result from Tyson Food’s plan for a US$30 million improvement project at the Storm Lake, Iowa, USA pork plant.
The Storm Lake pork plant currently employs more than 2,000 people and generates an annual payroll of US$86 million, according to Gary Mickelson, senior public relations director for Tyson Foods.
The expansion project will create eight jobs paying a wage of US$18.35 per hour, which qualified Tyson Foods for the IEDA incentives.
The plant’s refrigeration area, where pig carcasses are chilled before they’re processed into pork cuts, will increase as part of the expansion project. This construction will add about 40,000 square feet to the 250,000 square foot plant. The new space will enable the facility to increase its overall production capacity.
Work is currently expected to get underway this fall and be completed by late 2017.
Tyson Foods focuses on purchasing hogs from local farms to supply the Storm Lake plant, according to Mickelson. The company spent more than US$800 million in fiscal 2015 to buy hogs from independent farmers.