Oatly, a food manufacturing company that develops and produces oat-based drinks and foods, will invest up to $40M to expand its operations, with plans to add up to 50 jobs during the next seven years in Weber County,Utah.
The company’s flagship product is their oatmilk, an original oat-based drink produced using patented enzyme technology that turns oats into nutritional and delicious liquid food. The company worked with Brian Corde from Atlas Insight LLC - a site selection firm based in Freehold, New Jersey to help it arrive at this strategic location decision.
“As a 25-year-old company, we’ve been blown away by the enthusiasm and incredible demand for Oatly that we’ve seen here in the states over the past few years. We’re equally excited that we’ve been able to make our products for the US here in North America” said Oatly US General Manager Mike Messersmith. “Through this partnership with the state of Utah, our upcoming factory in Ogden will help us keep oatmilk in all the many coffee shops, grocery stores and refrigerators that want it.”
“EDCUtah is excited for Oatly to establish a significant presence in Utah,” said Theresa Foxley, President & CEO of the Economic Development Corporation of Utah. “This will be the company’s first operation in the western U.S., and their corporate values of sustainability and environmental friendliness align nicely with our vision for economic development in Utah. Oatly will help raise the bar for employee compensation in the food and beverage manufacturing industry, and we appreciate the support of GOED, Ogden City, the Business Depot Ogden, and other partners to bring this project to fruition.”
“Oatly is a great addition to Utah’s manufacturing community and will add to our food and beverage industry in the state,” said Val Hale, executive director of GOED. “As their first operation in the west, Ogden is a great fit and we’re excited to have them in Utah.”
According to Utah Governor’s Office of Economic Development, Oatly may earn up to 10 percent of the new state taxes they will pay over the life of the seven-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance tax credit rebate. As part of the contract with Oatly, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $295,463. Each year that Oatly meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
“We welcome Oatly to Ogden,” said Ogden City Mayor Mike Caldwell. “The company’s commitment to healthy lifestyles aligns well with Ogden’s values and unmatched access to outdoor recreation. Oatly is a great community partner and we look forward to their presence in the community.”