LITTLE ROCK, Ark. (KTHV) - The land has been sold, financing is in place, and a special announcement is set for March 10.
Peco Foods unveils plans for Arkansas
Our news partners at Arkansas Business have early word on a major new poultry operation coming to northeast Arkansas, and with it, hundreds of jobs.
Arkansas Business reported first word of the new Peco Foods plant for Randolph and Clay counties back in November, but we've got more details now ahead of the official announcement set for two weeks from today.
Peco, which is based in Tuscaloosa, Alabama, is planning to unveil a new integrated poultry operation in the region that costs more than $165 million and will start off employing around 350 people.
The company behind the operation envisions employing around 1,000 workers in the months following the opening of the operation, tentatively set for January 2016.
Sources have said that Peco will develop a poultry processing plant and supporting hatchery, along with a truck stop facility, on a nearly 200-acre site near the northeast corner of Highway 90 and U.S. 67., about 2 miles south of Pocahontas
The company also will develop a grain storage facility on the northern outskirts of Corning on a 168-acre site along the Union Pacific rail line.
Two industrial revenue bond issues will help fund the operations; there's a $128.5 million bond in Randolph County, and a $36.5 million bond in Clay County.
Other incentives and grants are expected to be part of the overall package. Sources Arkansas Business talked to described the processing plant in terms of the largest facility of its kind in the nation, with what could be close to "around-the-clock" operations.
Now Peco is the 8th largest food processor in the country. It had about $1 billion in revenue in 2012. It already has a plant in Batesville, so this operation would be its second in Arkansas.
Peco's clients include Tyson Foods, Buffalo Wild Wings and Church's Chicken. It also has a private label food business, an institutional sales business and exports overseas.
You can read the complete story at ArkansasBusiness.com