New York’s biggest dairy producer plans to invest $10 million in its plant in Iowa
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New York City-based Tyson Foods is considering buying a new factory in Iowa for its production of goat milk, according to the Associated Press.
The dairy company will invest $9 million and will hire 1,200 people, according the AP.
The move will help Tyson expand its production in the state and the company will be the second dairy to open in Iowa.
New York State has been looking for ways to diversify its milk production, but it’s not clear how much will be required.
The AP reported that Tyson has been in talks with Iowa’s governor to get a deal done.
New Jersey dairy owner Jim D’Amico told the AP that the company is in discussions with a number of potential dairy owners in the Hawkeye State, including Tyson.
“The more we get to know them, the more we like what they can do for the state,” D’ Amico said.
D’amico said the dairy is looking to build up the brand in the region.
Tyson is not the only dairy company considering Iowa, though.
Wisconsin-based Fitch Ratings said it expects to increase its dairy operations in Iowa to 1,500 workers, adding an additional 2,500 to the company’s workforce.
“Our focus remains on creating and maintaining a successful, high-quality dairy operation, with an eye towards expanding to a larger, larger facility,” the ratings agency said in a statement.
The company also announced it will hire more than 200 people at its Iowa plant, which will be used for dairy production.
Dams Lake in Cedar Rapids, Iowa, which has been producing goats for Tyson for years, is expected to get the lion’s share of the production.
Tyson, along with other dairy companies, has struggled to expand its business.
In September, the company announced it had closed more than 20 plants in the U.S., leaving more than 5 million dairy cows out of work.
Tyson’s shares closed down 3% at $37.36 in morning trading.
The stock is up nearly 20% in the past year.
New York City-based Tyson Foods is considering buying a new factory in Iowa for its production of goat milk, according…
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