Tyson Foods has plans to build a distribution center in Denton, Texas, and has asked local leaders for financial incentives to build there.
The proposed facility would be a 350,000 square foot refrigerated warehouse valued at $30.6 million, according to WBAP. Tyson Foods said about 100 people would be employed there, with an average wage of nearly $25 per hour.
The Denton City Council is expected to vote on the matter in January. If the council approves the request from Tyson, the city would pay out $735,000 over a six-year period, with most of that money coming in the form of electricity discounts, reported the Denton Record-Chronicle. The incentive program is known as the electric growth rider, in which Denton helps recruit industrial users that consumer electricity at a steady-around-the clock rate.
The Denton Economic Development Partnership Board has recommended that the city fully fund Tyson Foods’ request. However, the council has the option to approve a smaller amount of funding, or to not fund the project at all.
Tyson Foods, which earlier in 2018 finished the acquisition of Tecumseh Poultry and Keystone Foods, is a diversified protein company and the largest broiler company in the United States and sixth largest turkey company in the United States, according to the WATTAgNet Top Poultry Companies Database. It is also a major pork and beef processor and has invested in alternative protein companies.
