Cobb-Ventress, a subsidiary of Tyson Foods, is well into the first stage of building a poultry feed manufacturing facility just west of Albany, near Gaddie-Shamrock and WANY Radio Station.
During the past several weeks, construction crews have worked on the initial stages of the project in order to hit the projected finishing date of just over a year from now, December 4, 2014.
Bob Chavis, Project Manager – Milling Manufacturing Services from Tyson Foods, Inc., said during an e-mail interview, the project has several stages, including site prep, mill foundations, slip form construction, equipment installation, electrical installations, ancillary buildings, drive and parking and finally test runs and production start up.
The feed mill will purchase corn and soybeans from local farmers and purchase as much as one million bushel of corn annually. According to Chavis, the plant will provide anywhere from 9-15 jobs once the mill is complete.
“I believe the mill will be very good for the county in that it will provide good steady jobs as well as be a great supporter of the Albany, Kentucky community,” Chavis said.
Right now, Chavis said the project is providing 10-15 jobs and the job site is currently getting ready to pour the main slab this week.
“The mill slip with take place in mid January 2014,” Chavis said. “The facility will be called the Cobb Feed Mill. High quality poultry feed for the Cobb hen flocks will be produced here and delivered to Cobb farms in the Kentucky, Tennessee, Virginia and North Carolina areas.”
The Clinton County Fiscal Court signed an agreement with Tyson Foods, Inc. during its August 2 meeting, agreeing to abate the local taxes for a 25-year period and “undertake the issuance of taxable and/or tax-exempt industrial building revenue bonds at the appropriate time to pay the cost of acquisition, construction and equipping.”
The industrial revenue bonds, at no cost to the county, would not exceed $10 million if tax-exempt and $15.2 million if taxable.
The resolution reads in part, “the issuer (county) proposes to enter into the appropriate time a lease and/or loan agreement with the company with respect to the project, whereby the company will covenant and agree to pay to a trustee on behalf of the issuer (county) amounts sufficient to provide for the payment of principal, premium, if any, and interest on the bonds.”
During the August 2 meeting, Benny Garland, of South Kentucky RECC, who acted as a consultant between the fiscal court and Cobb-Ventress, added the project could be capable of adding $5 to $6 million per year to the economy with the purchase and processing of corn and soybeans at the facility.