Mead Johnson Announces Expansion of Infant Formula Production in Evansville
EVANSVILLE, Ind. (October 21, 2014) – The City of Evansville and economic development partners at the Growth Alliance are pleased to announce that Mead Johnson Nutrition Company (NYSE: MJN), a global leader in pediatric nutrition, will invest approximately $35 million dollars into an expansion and equipment upgrade project at its manufacturing facilities within the City. Through the expansion process, Mead Johnson will be hiring approximately 18 new employees.
Jeff Jobe, Senior Vice President of Global Technical Operations, commented, “Mead Johnson conducted an extensive review and business evaluation of a number of potential locations to make this investment. When all the factors were taken into account, the analysis pointed to Evansville as the best location to expand our production capabilities.” Jobe added, “The decision was based on a combination of factors, including efficiency and cost-effectiveness, a strong pool of local talent, and support from the City of Evansville and the State of Indiana.”
The replacement and retrofitting project will incorporate new technology and diversify existing production, allowing Mead Johnson Nutrition to more effectively utilize several buildings located at its manufacturing facilities in Evansville.
“I am thrilled with the company’s decision to reinvest in Evansville, which makes a strong statement that our community is a good place to do business,” said Evansville Mayor Lloyd Winnecke. “This expansion is another boost to the local economy and will result in several high-paying, professional jobs in Evansville. Our city is proud to partner with Mead Johnson on this project, and I look forward to continuing our relationship in the future.”
The added jobs and investment will provide the Evansville community with a positive economic impact estimated at $164 million over the next 10 years, or $16.4 million per year. Because of this impact, the City of Evansville has proposed awarding Mead Johnson a standard 10-year tax abatement for personal property, totaling a value of $3,529,194.
“These high-value jobs are evidence of the positive economic impact that science and technology based businesses such as Mead Johnson have on our community,” stated Deborah Dewey, President of the Growth Alliance. “We appreciate the opportunity to work with Mead Johnson to retain and expand employment of Evansville residents.”
The Indiana Economic Development Corporation offered Mean Johnson & Company, LLC up to $125,000 in conditional tax credits and up to $125,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
About Mead Johnson
Mead Johnson, a global leader in pediatric nutrition, develops, manufactures, markets and distributes more than 70 products in over 50 countries worldwide. The company’s mission is to nourish the world’s children for the best start in life. The Mead Johnson name has been associated with science-based pediatric nutrition products for over 100 years. The company’s “Enfa” family of brands, including Enfamil® infant formula, is the world’s leading brand franchise in pediatric nutrition. For more information, visit meadjohnson.com