Tyson Fresh Meats, Inc., a wholly owned subsidiary of Tyson Foods, Inc. is investing $28 million to expand its Waterloo pork processing facility, creating 245 new jobs at or above the qualifying wage of $17.29/hour.
The expansion includes the construction of a new 56,400 square foot warehouse building and additional production lines. Upon completion, the plant will add 245 new hourly/management support and manager positions.
Today, the Iowa Economic Development Authority (IEDA) awarded Tyson Fresh Meats $2 million in investment tax credits and $396,000 in sales and use tax refunds for job creation and expansion in Waterloo.
“The expansion of our Waterloo pork complex is great news for our plant, our community, and our customers,” said Shane Miller, Senior Vice President of the Pork Division for Tyson Fresh Meats. “We are committed to the Waterloo community and look forward to adding more jobs, while also supporting the independent pork producers in this region.”
The IEDA award is contingent on a local match to show support for the project. On Monday, September 25, the Waterloo City Council is expected to vote on a five-year industrial partial property tax exemption.
“When businesses grow, we all win,” says Waterloo Mayor Quentin Hart. “These new jobs will have a positive impact on every sector of our economy. With them comes greater demand for housing, retail and dining options, healthcare and professional services. This expansion will increase tax revenue that supports City services and our schools.”
Noel Anderson, Waterloo Community Planning and Development Director, said the City’s partnership with Tyson Fresh Meats brings continued investment, advancement in technology, and innovation in the foodservice industry.
“Waterloo’s ability to deliver infrastructure, workforce, and a smooth design-build process is proven with recent expansions made by companies like Tyson Fresh Meats, ConAgra, Hydrite, and many others,” Anderson said.
The Greater Cedar Valley Alliance & Chamber collaborated with the IEDA, Tyson Fresh Meats, and the City of Waterloo to support Tyson Fresh Meats and make the expansion happen in Waterloo. Application assistance is one of the services that the Alliance & Chamber provides to existing businesses to help drive the regional economy.
On behalf of the businesses and industries in the Cedar Valley, Steve Dust, CEO, Alliance & Chamber, thanked Tyson Fresh Meats’ management for their continued investment in their Waterloo operation.
“For us, Tyson Fresh Meats’ significant expansion makes it clear that the Cedar Valley is a place that welcomes capital investment of many kinds, and we’re a great place to operate a major plant.”
The Cedar Valley is an optimum location for logistics in the Midwest, Dust said.
“With Waterloo’s aggressive stance to ensure expansions happen here, and Iowa’s incentives, we’re pleased another 245 people will have a new job with good wages and benefits. It’s a win for the Cedar Valley,” Dust said.