Calysta, Cargill win Corporate Investment & Community Impact Award

Cargill, Calysta, Inc.
Memphis, Tennessee

In August, 2017, Calysta and Cargill were recognized by Trade and Industry Development with a 12th Annual Corporate Investment and Community Impact Award. The award recognizes corporate locations and investments with a focus on both the company investing in the community and the economic developers responsible for securing the investment. Recognition is bestowed on companies and communities in two site selection categories: corporate investment and community impact.

In Memphis, Tennessee, the two companies have come together to bring scores of new jobs to Memphis.

Cargill and Calysta, along with several third-party investors, plan to build the world’s largest gas fermentation facility in Memphis to produce Calysta’s FeedKind protein, a family of sustainable, traceable nutritional ingredients for fish, livestock and pets. Upon completion of the plant, the new venture expects to initially hire 75 permanent employees and expand to 163 people when the plant is at full ramp-up.

The new venture plans to build and operate this facility on Cargill’s 69-acre property where Cargill currently produces corn oil and stores and distributes sweetener products. The facility is expected to come online in late 2018, producing up to 20,000 metric tons per year of FeedKind protein initially and expanding up to 200,000 metric tons per year when operating at full capacity.

“Cargill has been a part of the Memphis community for 40 years. With the strong support of the state of Tennessee, Shelby County and city of Memphis, we are pleased that the venture chose to locate the facility in Memphis,” Cargill’s Global Vice President of Bioindustrial Brian Silvey said. “Calysta is very pleased to be joining in this new venture with Cargill in Memphis to open the first U.S. manufacturing plant for FeedKind protein,” added Calysta President and CEO Alan Shaw, Ph.D. “We look forward to partnering with the city of Memphis and the state of Tennessee to bring the next generation of sustainable aquaculture products to market.”

The Cargill, Calysta joint venture represents a $661 million investment, which will have a direct economic impact of $364.5 million and an indirect and induced impact of $517.1 million. Officials expect an additional impact of 296 induced jobs.

“Since 2010, Tennessee’s manufacturing sector has gained 45,402 jobs, which is the fifth-biggest gain among all U.S. states, and I thank Calysta, Cargill and the other investors of this newly created venture for adding jobs to this substantial sector,” said Tennessee Department of Economic and Community Development Commissioner Randy Boyd. “On behalf of Team Tennessee, I appreciate this venture for recognizing the advantages of doing business in Tennessee and for initially creating 75 new jobs at its new Memphis operations.”

https://www.tradeandindustrydev.com/industry/2017-corporate-investment-awards-12806