TIPPECANOE COUNTY, Ind. (WLFI) — Tate & Lyle, a global supplier of food and beverage ingredients and solutions, plans to invest more than $90 million in the Lafayette plants over the next three years.
Tate & Lyle executives, joined by Indiana Gov. Mike Pence, made the announcement at the company’s headquarters in London Tuesday morning. Tate & Lyle produces a wide range of sweeteners, starches, stabilizer systems and industrial ingredients, many of which are made from corn, for customers around the world.
“All over the world, business leaders are recognizing that Indiana has all the ingredients they need to take their businesses to the next level,” Pence said in a release. “From a central location in the heartland of America to tax policies that encourage growth, Indiana is affordable, innovative and productive. I was privileged to personally thank leaders at Tate & Lyle in London today for recognizing that Indiana offers global companies the perfect recipe for success.”
Officials said the investment includes a three-phase expansion of Lafayette North facility to increase its modified food starch production capacity. There will also be a number of improvements to increase efficiency at its Lafayette South facility.
The planned expansion and upgrades are expected to be complete in 2017. Tate & Lyle also plans to add roughly 10 positions to its workforce of 500 employees.
Olivier Rigaud, president of specialty food ingredients at Tate & Lyle, said in a release that he was thankful to the state of Indiana and the city of Lafayette for their ongoing support. He said he looks forward to a continued relationship.
“Our investments in Lafayette position us for future flexibility and growth within our markets and allow us to provide the solutions our customers need to meet consumer demands while making continued improvements in our environmental performance,” Rigaud said in a release.
The company’s has more than 30 production and research facilities worldwide, including the two manufacturing facilities in Lafayette. For its fiscal year ending in March 2014, Tate & Lyle’s sales totaled $5.32 billion.
“Tate & Lyle continues to be one of Lafayette’s leading industries,” said Lafayette Mayor Tony Roskwarski. “This latest investment and pledged job creation is one of many investments that the company has made here in their local plants. It is a testament that Lafayette is good place to do business. We appreciate their confidence and support of the Lafayette plant and our community.”
The Indiana Economic Development Corporation offered up to $375,000 in conditional tax credits based on the company’s investment plans. The city of Lafayette approved additional tax abatement at the request of the Greater Lafayette Commerce.