One of the largest turkey processing companies in the US, Huntingburg-based Farbest Foods Inc, has announced that it is moving forward with it's plans to construct it's new turkey feed mill and processing plant. The new plants to be located in the U.S. 41 Industrial Park in Vincennes, Knox County is projected to be completed sometime in 2014.
The new plants will be a boost for the local economy with the turkey processing plant projected to employ about 300 people at its opening, and the feed mill employing around 30 employees, with up to 600 jobs in total being created in the future as a result of the project.
After it's preliminary assessment, the company admitted that the projected cost of the new plant would be quite a bit higher than first estimated, and that they how to reduce the cost without affected the number of potential employment positions available.
The feed mill came out close to its estimated budget at $21.5 million USD, but the turkey processing plant came out much more than initially thought, at $89 million USD. Farbest Foods hope to brings this cost down to $70-$75 million USD. The company had previous forecast the feed mill project would cost $20 million USD, and the processing plant around $70 million USD.
Regardless of the underestimated initial budgets, it was revealed that Farbest still plan to go ahead with the plant and construction for both projects was to begin in June, with them both projected to be completed by January 2014.