ANNOUNCEMENT 01 Jan 2009
The grant was made under a cooperative endeavor agreement between the company and the Louisiana Economic Development agency.
NUMBER OF INTERVENTIONS
In calendar year 2009 Foster Poultry Farms committed to purchase, improve, and operate the closed Pilgrim’s Pride poultry operation, with employment ramping up to 1,100 with average salaries of $22,500, plus benefits, by 2011. To secure the project, Louisiana Economic Development offered a performance-based grant of up to $50 million from the Mega-Project Development Fund to be utilized for facility purchase and inventory rebuild (total of approximately $40 million) and capital improvements (approximately $10 million). Grant funds were provided on a reimbursement basis after expenditures were verified and approved by the State.