For immediate release: Dec 22, 2011
Posted by: [IEDC]
Contact: Katelyn Hancock
Phone: 317.234.2294

Farbest Foods to Invest $69 million in New Knox County Plant

VINCENNES, Ind. (Dec. 22, 2011) - Governor Mitch Daniels announced today that Farbest Foods, Inc., one of the nation's largest turkey companies, will locate a new plant here, creating up to 600 new jobs over the next few years.

The Huntingburg-based company will invest $69.2 million to build a 220,000 square-foot processing plant on 100 acres of land in the U.S. Highway 41 Industrial Park in Vincennes. The new facility is expected to open its doors in January 2014.

"Farbest's decision to locate another facility in Indiana reaffirms the confidence that flourishing companies have in our prosperous business climate," said Daniels. "Thanks to our expansive infrastructure combined with the ability to reach 80 percent of the nation's population within a day's drive, Indiana is continually winning opportunities to bring more jobs to hardworking Hoosiers."

Farbest currently employs approximately 850 Hoosiers at its two Indiana locations in Huntingburg and Dubois. The company has already begun hiring engineering, administrative and maintenance associates for the new Vincennes plant and plans to begin hiring manufacturing associates in 2013. Once operational, the plant will initially employ 360 associates and will later grow to up to 600 employees with the anticipated addition of a second shift.

"Our current facilities for turkey processing, feeding and growing are near full utilization after completing the second shift of operations started in 2007," said Ted Seger, president of Farbest. "We have been investigating alternatives for our planned growth for more than a year in an effort to meet growing global customer demand for our products. Indiana is the perfect home for growth due to its abundant supply of grain, proactive stance on development of agriculture and our ability to leverage the strengths of our current turkey grower base and employees."

A family-owned operation since 1982, Farbest supplies more than a million pounds of raw, fresh and frozen turkey products per day to food processors who prepare and package their own brand-name foods. The company currently oversees the production of more than 10 million turkeys per year through approximately 170 contract growers in Indiana, Illinois and Kentucky. With customers in more than 20 countries, Farbest exports 20 percent of its products internationally.

The Indiana Economic Development Corporation offered Farbest Foods, Inc. up to $2.8 million in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Knox County has approved additional tax abatement at the request of the Knox County Development Corporation.

"We are very pleased that Farbest has chosen Vincennes," said Vincennes Mayor Al Baldwin. "We are equally confident that Farbest will prosper with the continued efforts of the state of Indiana, Knox County and Vincennes to support our business communities in the best ways possible."

Farbest's decision to locate in Knox County comes on the heels of Stens, LLC's announcement last week to invest $2.28 million to expand its headquarters in nearby Dubois County. As part of the project, the global outdoor equipment parts supplier projects to create up to 98 new jobs by 2015.

About Farbest Foods
Farbest Foods, Inc., a family owned company since 1982, is one of the nation's largest turkey companies with operations in Huntingburg, Ind. and Dubois, Ind. Current operations include turkey growing, feed production and turkey processing. More than 10 million turkeys per year are grown through 170 contract turkey growers in Indiana, Kentucky and Illinois. The processing plant in Huntingburg, Ind. employs more than 800 associates who process the turkey into products that are supplied to food processors that prepare and package their own brand name foods in the U.S. Nearly 20 percent of the turkey production is marketed to International customers.   

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov

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Media Contact:
Ted Seger (Farbest Foods) - 812.683.4200 or tseger@farbestfoods.com  
Katelyn Hancock (IEDC) - 317.234.2294 or kahancock@iedc.in.gov  

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