US meat producer invests $36 million in New Mexico plant
Stampede Meat took the decision to expand outside of Illinois and increase thus its 285,000 square footage and 190 million-pound capacity by more than half.
“Stampede has been at capacity on some critical lines for a number of months,” Stampede Meat CEO and President Brock Furlong said. “Starting this fall, this will allow Stampede to grow with a significant investment in cook capacity and new capabilities to continually play a more critical role as our customers look for more turn-key solutions.”
The new facility is set to be opened in October 2018. The company wants to create 1,295 new jobs, making it the largest job creation project in New Mexico in over a decade.
Stampede’s existing facilities, products made in New Mexico will be distributed
across the entire U.S., as well as internationally to locations such as Canada and South America. Once fully utilized, the facility will support $300 to 400 million in revenue, according to the company's release.
Furthermore, Stampede’s expansion also received a great deal of support from the New Mexico Economic Development Department, which is investing up to $3 million in Local Economic Development Act (LEDA) funds. LEDA is New Mexico's closing fund, which helps in recruiting new businesses to the state. The City of Sunland Park will act as the fiscal agent for the award. Additional supporters in this expansion effort include the Construction Industries Division (CID), the New Mexico State Fire Marshal’s Office, and the Mesilla Valley Economic Development Alliance (MVEDA) team.
Stampede Meat was founded in 1995 and produces custom, protein-based solutions for the foodservice and retail industries. The company operates currently facilities in Oak Lawn, Bedford Park and Hodgkins.
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