US – Carolina Precision Foods, a joint venture of Carolina Fresh Foods and owners of Lake Foods, has announced an investment of US$10 million to construct a new poultry plant in Florence County that will create 402 jobs over five years.
The US$10 million investment includes US$3.825 million for land and building and US$6.175 million in equipment and machinery, County Administrator K.G. Smith said.
The facility will be located in the industrial park that also houses Niagara Bottling Co. and operations are expected to start in August, according to the company.
The Florence County Council unanimously gave final approval to a fee-in-lieu-of-tax agreement and an agreement for the development of a multicounty Industrial and Business Park for Carolina Precision Foods LLC.
Carolina Precision Foods specializes in deboning, portioning, margination, custom further processing and mechanically separating food.
Carolina Precision Foods, chief financial officer Jim Robinson said: “With over 65 million pounds of poultry processed weekly within two hours of Florence, this was the perfect location for our plant. “
With Interstates 20 and 95 at our doorstep, fresh chicken from Carolina Precision Foods can be processed for over 19 million consumers a day.”
The investment of Carolina Precious Foods comes at a time when the Business Research Company projects the global poultry market size to grow from US$318.58 billion in 2021 to US$350.87 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%.
The global poultry market size is also forecasted to grow to US$493.21 billion in 2026 at a CAGR of 8.9%, according to the market research and intelligence company.
The poultry manufacturing growth will be aided by stable economic growth forecasted in many developed and developing countries.
US$.1.1B South Dakota beef plant receives backing from Farmers Union Industries
Meanwhile, the proposed US$1.1 billion beef packing plant in Rapid City, South Dakota, has got some backing from Farmers Union Industries.
Farmers Union Industries would build next to the packing plant to handle byproducts out of the facility, using meat and bone meal as well as making tallow and grease products for the feed ingredients industry and industrial products, according to Dale Bednarek, CEO of Farmers Union Industries.
The Western Legacy Development Corp, the name given to the touted Giant Beef Packing Plant by its owner Kingsbury & Associates would process up to 8,000 head of cattle a day.
It is speculated that the processing and packing plant would be about 25% larger than some of the largest packing plants already in operation that are owned by the likes of Cargill, JBS, National Beef, and Tyson.
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