Monsanto announces $140M investment, to bring more than 50 jobs to Lubbock
LUBBOCK, TX (KCBD) - Monsanto announced an investment will be made of more than $140 million in a new Monsanto building for DELTAPINE seed at a meeting held by the Lubbock Economic Development Alliance.
This building will process cotton seed for Deltapine, which is Monsanto's flagship brand.
They will condense at their three other locations but they will consolidate to Lubbock. The company is still keeping the other locations open and operate as a distribution centers.
They will create 40 full time jobs and 15-20 part time jobs. The building will be located off I-27 just north of the Lubbock Airport.
Dave Penn, spokesperson for Monsanto when asked "why Lubbock?" Penn said, "Why not Lubbock?"
From The Lubbock Economic Development Alliance
The Lubbock Economic Development Alliance (LEDA) announced that Monsanto, one of the world's largest sustainable agriculture companies, is expanding their Lubbock operations to include a new cotton seed processing facility. The company will invest $140 million into building and equipping the new state-of-the-art facility, the largest capital investment project announced since LEDA's inception.
The new facility, located on 150 acres in North Lubbock along Interstate 27, will be established as Monsanto's primary U.S. hub for all cotton seed processing operations – to include cleaning, treating and bagging of its Deltapine brand cotton seed. Monsanto is set to break ground in March and anticipates being operational by summer 2017.
"Monsanto is proud to be part of the Lubbock community," Dave Penn, cotton manufacturing lead at Monsanto, said. "As we prepare to break ground on the new facility, this continued partnership with LEDA will help us bring better technology and greater efficiency to our cotton seed manufacturing operations, and we'll be able to pass that value to farmers across the Cotton Belt as they meet the daunting task of feeding and clothing our ever-growing world."
Monsanto is also creating 40 new full-time jobs and 15-25 new part-time jobs that will operate out of the facility. The full-time positions include managers and technicians with annual average salaries of $55,000.
"Bringing people and processes together at the new, state-of-the-art facility in Lubbock will boost collaboration and efficiency within our manufacturing organization, and its geographic location in Lubbock, Texas, creates better alignment with the cotton industry and enable us to better serve customers across the Cotton Belt," Penn added.
Advanced technology at the new cotton seed processing hub in Lubbock will allow for enhanced data capture and automating processes through computers, rather than manual operations, which will improve manufacturing effectiveness and the safety of Monsanto personnel.
"On behalf of the board and staff at LEDA and Market Lubbock, we would like to congratulate Monsanto on growing their presence in Lubbock," Tim Collins, chairman of the board for LEDA and Market Lubbock, said. "The impact of cotton on the Lubbock economy is vital, and this continues to establish Lubbock as one of the major cotton centers of the U.S. and the world."
Once fully operational, the total value added impact (change in Lubbock County's Gross Regional Product) will be $11.2 million annually.
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