The current meat processing plant, Fayman & Sorbello Food Group which is affiliated with ESRO Food Group are making big plans to expand the infrastructure of their facilities production line. The company expects to add an additional 100 jobs with the new improvements and expansion from the state funds.
Governor Kevin Stitt approved the “Quick Action Closing Fund” for 1.5 million dollars to FSFG to boost their business in Madill and help the state.
The QACF issued by the Governor is used for economic development. The funds are expended when locating or retaining a high impact business is a factor. The job creation tool is important for Oklahoma to recruit new and retain existing businesses in the state. The Oklahoma Legislature and the Oklahoma Department of Commerce are responsible for the administration of the QACF.
Chase Horn, a spokesperson for the Oklahoma Department of Commerce, said the funds are specific to the business’s needs.
“It’s designed to specifically target projects where the economic output over the long term is going to far greatly exceed the economic investment from the state,” Horn said in an interview with KTEN.
The FSFG/ESRO company will also use the funds to provide additional deliveries and improve the wastewater infrastructure.
The state money is granted to the company with the condition that FSFG can achieve the agreed upon metrics made with the Department of Commerce.