USA – The global agricultural behemoth, Cargill has proposed a US$37.62 million investment at its soybean processing plant in Cedar Rapids, Iowa, according to The Gazette report.
Cargill is planning to use the funding in upgrading, expansion and modernization of the facility located at 410 C Ave. NE, in an industrial section north of downtown near Cedar Lake.
The company has received preliminary approval for the planned expansion from the Cedar Rapids City Council.
“It says a lot about Cargill’s commitment to the area,” said Ron Corbett, business retention and expansion strategist for the Cedar Rapids Metro Economic Alliance. “This is a great way to start the new year with a US$37 million investment by one of our anchor companies.”
The facility comes to support creation of jobs for plumbers, electricians with farmers throughout Eastern Iowa supplying the plant with soybeans.
Victoria Bagley, a Cargill spokeswoman said: “The potential investment is more about upgrading our equipment to continue to provide employees a safe place to work, while also increasing our efficiency.”
In 2017, Cargill acquired the Cedar Rapids-based animal nutrition company Diamond V to accelerate growth in the natural and wholesome food production for healthier animals.
The purchase included all of Diamond V’s business, including the human health business, Embria Health Sciences, and its branded product EpiCor.
Cargill, which has about 400 employees in Cedar Rapids, also operates a corn milling plant in southeast Cedar Rapids and a west soybean processing facility.
Cargill’s plans for the east soybean facility include US$6.12 million in building construction and site preparation and US$31.5 million in machinery and equipment, design and engineering.
The expansion would add 27,000 square feet and retain 48 jobs, according to city documents.
The development strengthens Cargill’s position in the US$20 billion global animal feed additives market.
Cargill announced a minority equity investment in Austria based feed additive company, Delacon to advance the market presence of natural, plant-based feed additives on a global scale.