PODCAST: Beck’s CEO on ‘Seeding’ Company Success
AgriNovus CEO Mitch Frazier (L) chats with Beck's Hybrids CEO Sonny Beck.
The chief executive officer of Beck’s Hybrids in Hamilton County says Indiana’s leadership makes it easy to do business in the Hoosier State, which is why the seed company continues to invest and grow its operations in the state.
In August, the company celebrated the opening of a new, soybean processing plant. The seed company announced in 2019 it would invest $60 million to build the new facility at its Atlanta headquarters and create about 60 jobs.
“Business atmosphere in Indiana has always been good. It’s been particularly good the last dozen years for growth and they understand business,” said Beck’s CEO Sonny Beck in the latest episode of the Ag+Bio+Science podcast, presented by AgriNovus Indiana. “They understood what it takes for businesses to be able to survive thrive and provide jobs.”
Beck’s Hybrids is the third largest seed brand in the U.S. The company started in 1937 when Purdue University was offering farmers hybrid seed corn, what was then considered innovative technology.
“And so, my father and grandfather both got their three-acres worth, came home and planted it. And that was the start of Beck’s Hybrids,” Beck shared with podcast host AgriNovus Indiana CEO Mitch Frazier.
Beck’s is the nation’s largest, family-owned seed company. There are not shareholders expecting a return, like a publicly owned company. But they do have farmers. Beck explains why the company’s give back program is key.
“We realized that our farmers are the only ones that are putting money in our company. They’re [like] our shareholders,” explained Beck. ”When they say, ‘I’m going to buy this much seed from you this year,’ we turn around say, ‘okay, we will give this back to you.’”
Depending on the size of the seed order, it might be discounts. But the company also gives customers equipment, like pickup trucks and tractors. Beck say it helps the company keep focused and grow loyalty.
“That’s what we are, we help farmers succeed. It’s not about what you sell. It’s about why you sell.”
Listen to the complete conversation with Sonny Beck and AgriNovus CEO Mitch Frazier when the podcast comes out Monday morning. Plus, click here to see the full lineup of Inside INdiana Business podcasts with Gerry Dick.