A Netherlands-based company has announced plans to invest $150 million and create up to 200 jobs by building a cold-storage facility in Lebanon.
NewCold says the 380,000-square-foot warehouse will be one of the largest cold storage facilities in the U.S.
The building, which will be located in the Lebanon Business Park, will utilize automated storage and retrieval systems to transfer food products in sub-zero temperatures.
The Indiana Economic Development Corp. says it offered NewCold up to $2.8 million in conditional tax credits based on its job creation plans.
The IEDC says the city of Lebanon is considering a $9.8 million bond issuance at the request of the Boone County Economic Development Corp.
“NewCold’s facility and jobs creation will greatly increase the quality of life for our residents,” said Lebanon Mayor Matt Gentry. “We are hopeful that this newest addition to our city will continue to highlight the vast opportunity Lebanon and Boone County has to offer.”
NewCold says one of its customers will be Conagra Brands, a large food processor with multiple food labels.
The Lebanon plant will be the company’s third location in the U.S.
“As we continue to expand our North American presence, we look forward to becoming a long-term member of the Lebanon and Indiana business community, supporting local communities in efforts to foster economic growth and create high-quality employment opportunities,” said Jonas Swarttouw, vice president of customer and business development at NewCold North America.
The company plans to break ground on the facility this year and be fully operational in 2022.