Tyson Foods is planning to invest $70 million on a new 131,000-square-foot hatchery in Hope, Ark., expecting to triple capacity and supply the company’s processing operations in southwestern Arkansas, according to news reports.
The hatchery is expected to be completed by late 2024 and builds upon a reported $67 million investment in nearby Hempstead County to support the business. It was unclear how many jobs the new hatchery would provide, but it was expected to increase opportunities for contract farmers in the region.
“This investment is another way to demonstrate our long-term commitment to our home state of Arkansas and the Hope and Nashville communities,” Donnie King, president and CEO of Tyson Foods, said in a statement.
The announcement of the new hatchery comes on the heels of last week’s announcement by the company that it would close two chicken processing plants in Van Buren, Ark., and Glen Allen, Va.