Food processing company Wright Foods has announced plans to invest $53m over the next five years in a bid to expand its food processing and packaging operation in Troy, North Carolina, US.
The company uses aseptic processing technology developed at North Carolina State University to package its products.
The method requires no preservatives or refrigeration and is said to enhance product shelf life and quality, besides saving energy, packaging materials as well as distribution costs.
Wright Foods president and CEO Michael Drozd said the expansion will allow the company to grow to meet the needs of consumers.
"We are excited to expand in Montgomery County and to continue the partnership we have established with this Community," Drozd added.
One North Carolina Fund, which provides financial assistance through local governments, granted a performance-based grant up to $1.5m for the project.
The NC Department of Commerce, NC Community Colleges, Golden LEAF Foundation, NC Rural Economic Development Center, Montgomery County, Montgomery Economic Development Corporation, Town of Biscoe and the Town of Troy also helped in the project.
The company, which employs more than 80 employees in North Carolina at present, plans to create 505 jobs in Montgomery County with the expansion.