Days after announcing the closure of two major poultry facilities in Arkansas and Virginia, Tyson Foods Inc. of Springdale revealed plans to build a $70 million hatchery in Hope.
The new facility will triple the capacity of its existing hatchery, and contribute to operational efficiencies at Tyson's nearby poultry processing complexes in Hope and Nashville, the company said in a news release.
Construction on the 131,000-SF hatchery will take about two years, with completion slated for late 2024.
The new hatchery will employ workers from Tyson's existing facility and "create new job opportunities for the residents of Hope and surrounding areas," the release says. It will also offer contract opportunities for poultry farmers within 30-50 miles of the Hope hatchery.
The project comes after Tyson brought a $65 million super feed mill to Hempstead County last year, a facility that's expected to employ about 50 workers.
"This investment [in the Hope hatchery] is another way to demonstrate our long-term commitment to our home state of Arkansas and the Hope and Nashville communities," CEO Donnie King said.
The announcement comes less than a week after Tyson said it's closing two major poultry plants in May: a 48-year-old processing facility in Van Buren that employs close to 1,000 people and another facility in Virginia that is 71 years old and has nearly 700 workers.
The protein giant has been trying to address troubles in its poultry business, where it struggled to meet demand in early 2022, then became oversupplied and was forced to sell at a discount.
Tyson in January dismissed David Bray as president of poultry and brought back company veteran Wes Morris to fill the role.