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| Business Briefs - August 11, 2010 |
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Red Gold to increase capacity at Madison County HQ
ORESTES, Ind. — Red Gold, Inc. announced it will expand its production operations at its Madison County headquarters, creating 41 new jobs by 2012.
The company, which produces canned tomatoes, ketchup, tomato juice and pasta sauces, among other tomato products all in Indiana locations, invested more than $5.1 million in the construction of a new 23,000 square-foot facility at its Orestes campus. The expansion includes a high-speed food processing line and automated food technology and distribution equipment.
This investment is in addition to several other company-wide capital expenditures totaling more than $20 million this year alone. Red Gold will begin hiring additional processing technicians and advanced manufacturing employees this summer, and selective hiring will continue over the next 18 months while Red Gold seeks to fill some part-time and summer positions in addition to the 41 new full-time positions.
The Indiana Economic Development Corp. offered Red Gold up to $250,000 in performance-based tax credits based on the company’s job creation plans. Madison County will consider additional property tax abatement.
Indiana farmers to connect with consumers at State Fair
INDIANAPOLIS, Ind. — Indiana corn and soybean farmers are hosting the Indiana Soybean and Cornhole Toss Tournament during the last weekend of the fair – Aug. 20-22 – on the east side of the Grandstand. The tournament, sanctioned by the American Cornhole Organization, will be daily from 10 a.m.-6 p.m. and is open to all fairgoers ages 10 and up. For more information or to pre-register, visit http://bit.ly/aDaKZb
The Indiana Soybean Alliance (ISA) and Indiana Corn Marketing Council (ICMC) also invite fairgoers and farmers into their interactive Biofuels Mobile Learning Center, throughout the entire run of the 2010 Indiana State Fair. The first 500 Indiana corn and soybean farmers who stop by will receive a free hat.
In addition, the 12 tractor shuttles moving visitors around the fair run on 20 percent soy biodiesel, brought to you in part by ISA and the soybean checkoff. The generators running the rides and games on the Midway also run on a low-blend of soy biodiesel.
Finally, the ISA and ICMC are also proud to help sponsor Shoup’s Backyard BBQ Cookoff on Farmers Day, Aug. 18, from noon-4 p.m. on Main Street, in front of the Home and Family Arts Building. The first of its kind at the fair, this contest will engage fairgoers with the smells, taste tests and celebrity judges.
For more on ISA and ICMC fair activities, visit www.indianasoybean.com/ statefair or www.incorn.org/statefair
U.S. T-bones debut in major Korean retail chain
CENTENNIAL, Colo. — Lotte Mart, the third-largest retail chain in South Korea, recently launched sales of U.S. T-bone steaks at 85 locations across the country. This marks the first time this cut has been offered in the retail sector since Korea resumed imports of U.S. beef, according to the Cattlemen’s Beef Board.
With support from the beef checkoff, the U.S. Meat Export Federation (USMEF) held a beef seminar in March for supermarket meat managers and retail meat buyers. USMEF also hosted nine representatives from Lotte Mart to take a U.S. beef industry tour.
Lotte Mart cites the resurgence of premium-quality steaks in Korea’s high-end foodservice sector, and sees increasing potential for these cuts to perform well at the retail level. That’s why Lotte Mart is featuring U.S. tenderloins and striploins as well. It dedicates 30 percent of its imported beef section to U.S. products.
Over a four-day promotion at Lotte Mart last month, the chain sold U.S. T-bone steaks, rib eye rolls and striploins valued at more than $91,000, with 88 percent of those being T-bones.
Through May, Korea has climbed to third place in 2010 U.S. beef export volume at nearly 82 million pounds and fourth in terms of value, at $162.8 million. |
| 8/11/2010 |
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