For Food Manufacturers, the Right Economic Development Partner Is Critical
Friday, February 08, 2019
The ever-evolving food industry requires plenty of due diligence and community support in order to execute an effective relocation or expansion strategy.
The future of food manufacturing in the United States has never looked better. The industry is experiencing changes in processing, additions of manufacturing staff and new lines, and the opening of new plants while expanding capacity in others. Unprecedented mergers and acquisitions (M&A), including Mondelez’s acquisition of Tate’s Bake Shop, have led to company expansions that are outpacing consolidation. Capital investment by foreign companies is also driving the growth in the U.S. food and beverage sector — growth that is motivating some food processing firms to expand their footprints throughout the country.
If your food processing company is looking to relocate or expand into new markets, you’ll need an economic development partner that understands the food manufacturing industry. Following are a few topics you should be discussing with prospective communities as you look to relocate or expand.