Nov 22, 2010
MWC Instrumental in Farmland Foods Expansion in Monmouth, IL
The award package consists of a mix of state funds, private investment and tax credits that will retain 1,400 jobs while creating 50 new positions and provide financing for plant upgrades. More specifically, the package consists of a $750,000 CDAP grant, nearly $8 million in jobs tax credits, and up to $365,000 in training grant funds. In addition, Farmland Foods will take advantage of sales tax exemptions associated with the project’s location in the City of Monmouth’s Enterprise Zone.
The award package from the State of Illinois’ Department of Commerce and Economic Opportunity leverages at least $12 million in capital investments committed by Farmland Foods to expand its existing pork processing facility. The award package also leverages a $2.25 million investment by the City of Monmouth to upgrade an existing pre-treatment facility. This additional investment by the City of Monmouth follows up on a previous investment of $17 million to upgrade its main wastewater treatment facility.
To read the article from the local Monmouth paper, the Daily Review Atlas, click here.