RALEIGH, N.C. – Veetee Foods, Inc., known as Veetee Food Group in the United Kingdom, will establish a major production plant in Johnston County creating 200 jobs, Governor Roy Cooper announced today. The global food company specializing in the production of tasty shelf-stable meals will invest $35.7 million in Selma.
“It’s great to see another international company like Veetee Foods decide that North Carolina is the perfect place to expand their presence in the United States,” said Governor Cooper. “Our state’s talented workforce and worker training systems, along with our infrastructure and transportation networks give companies the confidence they seek in a world-class business location like Johnston County.”
The Veetee Group, founded in 1986 with operations in India and the U.K., is a food processing company that gained early success in the production of rice products, such as dry rice and ready-to-heat rice, and has since expanded into a wide range of ambient convenience foods.
Veetee employs approximately 1,000 people worldwide but its operations in the United States have been relatively small until today’s announcement.
The company has been expanding its product range and brand portfolio with the aim of reimagining the shelf-stable segment, also known as ambient foods. Veetee’s steam-filtered microwave rice trays have been offered in U.S. stores for several years. Last year the company launched its NoodleHead product in Europe and the U.S., and this year a wide range of HungryHeads lines across multiple ambient foods categories debuted, like the company’s PastaHead and MacNCheeseHead products, several which will soon reach American stores.
At the heart of these new launches are a focus on flavor, quality, taste, and convenience designed to surprise and delight a broad target audience and meet consumers’ snacking and main meal needs for many everyday occasions.
The company’s project in Selma will establish a plant capable of cooking rice, pasta, noodles, spaghetti and a variety of other foods, using many domestically sourced ingredients and employing technology developed over 20 years in its U.K. factory.
“We are delighted to see our ambitious expansion vision reach the USA, and we see Johnston County as our perfect partner,” said Moni and Rajiv Varma, the company’s Chairman and Managing Director, respectively. “We are humbled by this opportunity and are equally excited to unleash a wide range of delicious meals that families across the country will no doubt enjoy!”
“We welcome Veetee Foods to North Carolina,” said North Carolina Commerce Secretary Machelle Baker Sanders. “This company started from entrepreneurial roots, passion, and a pursuit of product excellence that is the hallmark of our state’s most successful companies and I look forward to seeing this company grow even stronger in our state.”
The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.
The new jobs will bring an annual payroll impact to the community of nearly $12 million per year.
Veetee Foods’project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $586.3 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $996,750, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
The project’s projected return on investment of public dollars is 90 per cent, meaning for every dollar of potential cost, the state receives $1.90 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
“We’re excited to welcome Veetee Foods to Johnston County,” said N.C. Senator Benton Sawrey. “Their decision to locate operations in our region is a strong vote of confidence and shows people around the world that North Carolina remains the perfect location for growth-oriented companies.”
“Many local, regional, and state organizations and leaders have worked hard to secure this important investment in Selma and Johnston County,” said N.C. Representative Larry Strickland. “We look forward to helping Veetee Foods make further connections in our area as they begin operations in North Carolina.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, Johnston County, the Town of Selma, and Johnston County’s Economic Development Office.
