Tyson Foods invests US$355m in new bacon facility to meet soaring demand for proteins
USA — American multinational meat processing corporation, Tyson Foods has announced plans to invest US$355 million to open a 400,000-square-foot manufacturing facility in Bowling Green, Kentucky.
The new facility, estimated to create 450 jobs upon completion, will focus on Jimmy Dean and Wright Brand bacon products.
“We are excited to be a part of the Warren County and Kentucky communities that will help us continue to provide the iconic Wright Brand and Jimmy Dean products our consumers and customers desire,” said Noelle O’Mara, group president of prepared foods for Tyson Foods.
“As people actively look to add more protein to their diets, Tyson is uniquely positioned as a category leader to meet that growing demand.”
The new facility is expected to positively impact the economy of the area with Bowling Green Area Chamber of Commerce anticipating that the economic impact for the facility would exceed US$2.7 billion in the next 10 years.
Kentucky Governor Andy Beshear was among the state and local leaders that praised the project Tyson will be taking on in the next few years.
“Tyson Foods has a longstanding presence in the Commonwealth, and its leaders’ vision for the future will make the company a great fit for Bowling Green and the surrounding region,” Mr. Beshear said.
Earlier, Tyson Foods Inc. announced plans to inject US$58 million into its Seguin poultry processing plant amid surging demand for poultry in Texas.
The project will add approximately 40,000 square feet to the 109,000-square-foot plant, Tyson Foods said in a statement.
Tyson Foods has also recently broken ground to its US$300 million prepared foods facility in Danville, Virginia.
According to a statement from the company, the project aims to accelerate brand growth and is part of Tyson Food’s commitment to meet the increasing demand for its products.
Tyson’s accelerated investment in animal protein comes on the back of surging demand for proteins in the United States.
According to Fortune Business, the U.S. meat market size is expected to reach US$215.76 billion by 2028, exhibiting a CAGR of 3.21% during the forecast period.
Consumers’ increasing interest in protein-rich and ketogenic diets will drive the market during the forecast period, states Fortune Business Insights, in a report, titled “U.S. Meat Market, 2021 – 2028.”
“As consumers actively look to add more protein to their diets, Tyson is uniquely positioned as a category leader to meet that growing demand,” said Noelle O’Mara, president, Prepared Foods at Tyson.
“Our continued focus on consumer-driven innovation will accelerate this momentum and our investments will help drive the long-term growth of the iconic Tyson brand.”
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