In addition to the construction project, Hormel plans to invest $82 million for new machinery and equipment over the next five years for a total capital expenditure of $132 million.
The company is asking the Wichita City Council for an economic development tax exemption to support the expansion, which is expected to an additional 384 jobs to the area. Hormel currently has 275 individuals working at the former Dold Foods facility, which Hormel acquired in 1984. The plant produces sliced bacon for national retail and foodservice customers.
City government documents state that Hormel qualifies for a 100 percent, five-plus-five year tax exemption — with the exception of any capital outlay levy assessed by the local school district — based on the company’s capital investment and job creation.
