This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Global Food Group To Open Plant In Arkansas


CLINTON, Ark. (AP) â¿¿ Food company Global Food Group will spend $4.7 million to turn a former electrical cord factory into a processing plant set to eventually employ more than 200 people in job-starved Clinton, Ark., Van Buren County leaders announced Wednesday.

For the past five years or so, the city about 70 miles north of Little Rock has weathered one loss after another. The Pilgrim's Pride chicken plant closed, laying off 350 people. A boat manufacturer stayed closed after being destroyed by a tornado, costing 80 jobs. The electric cord plant closed and moved to Mexico, taking more than 100 jobs.

Local and state officials spent about 18 months working out incentives to bring Global Food Group to town. Global President Robbie Brown said he wanted to locate in Van Buren County because workers are trained and available, though he said it would take about five years to reach the planned 224 employees.

The unemployment rate is about 9.5 percent in the county, which has 17,000 residents. The state unemployment rate is 7.1 percent and the national rate is 7.8 percent.

Pete Giovaninni, executive director of the Van Buren County Economic Development Corp., said the plant will be attractive to local residents who have had to find work out of town.

"We have people who have had to go to Clinton, Batesville, Little Rock or Harrison for jobs. This is an opportunity for them to come back and work in the town they live in and raise their kids in," Giovaninni said.

Global has a food plant in Georgia, but Brown said he wanted another facility closer to his headquarters in Cabot, just northeast of Little Rock.

The plant will produce sandwiches, quesadillas, tortillas and burritos that are sold in convenience and grocery stores. Workers will also produce chicken tenders, vegetables, bread, rolls, biscuits and potato products. The plant will install a cold storage facility to rent space to other food producers, Brown said.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,888.35 +168.43 0.95%
S&P 500 2,102.63 +22.22 1.07%
NASDAQ 5,156.3060 +47.64 0.93%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs