The Missouri Department of Economic Development (DED) and Kemin Industries today announced that Kemin will expand its pet feed production facility in Verona, Mo.
The 5-year expansion plan includes a more than USD$14 million capital investment and is expected to create 24 new jobs. The expansion will allow increased production capacity of the existing facility that manufactures meat protein used in palatants for premium and super premium pet foods.
"Kemin's announcement today is another big win for Missouri," said Mike Downing, Acting Director of the Missouri Department of Economic Development. "The company's investment in our state will create good jobs and boost our economy. We're proud to partner with Kemin on its expansion."
This expansion will ensure Kemin is positioned to meet increased consumer demand for pet food. Kemin has been expanding its global palatant manufacturing capacity over the past several years, opening a new state-of-the-art facility in Veronella, Italy, and in 2008, acquiring a controlling interest in a manufacturing facility in Brazil. In 2011, Kemin purchased spray drying technology and a manufacturing facility in Verona from American Dehydrated Foods. With continued success, the company will expand its Verona plant, over the next 5-years, by approximately 40,000 square-feet to accommodate increased production capacity and warehouse space for future growth.
"Missouri's prime location in the middle of the animal health science corridor has provided an excellent environment for our palatant plant," said Giuseppe Abrate, president of Kemin Industries' pet food ingredient division. "Access to diverse industry resources has served our business well and will help us achieve our vision of touching half the people, and pets, of the world with our products and services."
"We are pleased that Kemin has decided to expand inside our city and can benefit from the Enhanced Enterprise Zone that we are a part of," said Verona Mayor Willis Huston. "We hope that others will take advantage of it as we seek to revitalize the city."
The Verona expansion is part of the company's global expansion plan. Kemin is in the midst of a $40 million expansion at its corporate headquarters in Des Moines, Iowa, where it recently opened a new state-of-the-art research and development facility. When this expansion is complete, Kemin will have added six new manufacturing facilities, three research facilities and a new corporate headquarters building in Southeast Des Moines.
To assist Kemin with its expansion in Verona, the Department of Economic Development has authorized a strategic economic incentive package, estimated at over $300,000, which the company plans to receive by meeting the department's strict job creation and investment criteria.