South Korea’s Nutribiotech to Expand Their Garland R&D and Manufacturing Facilities with $100+ Million Capital Investment
Tue, October 17th, 2017
Nutribiotech USA, a Garland-based nutritional supplement manufacturer, will expand their current R&D and production facilities with a $100+ million capital investment. As agreed, they will grow their North American operations footprint from an existing 60,000 square foot facility to more than 685,000 square feet of space over the next five years. A major component of this expansion will include the renovation of 375,000 square feet of the former Raytheon facilities and construction of a new 250,000 square foot facility immediately adjacent to their current site.
In growing the project site from 4.5 acres to nearly 35 acres, Nutribiotech USA purchased a 30-acre portion of the former 110-acre Raytheon campus near the intersection of Jupiter and Miller Roads. As previously announced, Langford Property Company is constructing 800,000 square feet of new Class A industrial space on a 41-acre portion of that same former campus. Southeastern Freight Lines and Ricky Rockets have committed to develop the remaining 39 acres of the former Raytheon holdings.
In 2002, Nutribiotech USA’s parent company was founded in South Korea and it has been rapidly expanding worldwide ever since. Currently, they maintain and operate facilities in Australia, China, South Korea and most recently launched operations in Garland. In 2016, Nutribiotech became a publicly-traded company in South Korea.
“We have been growing very rapidly and Garland has been a critical part of our success. As we look to the future, we are excited to be a valued and dynamic part of this region’s economic engine.” said BJ Lee, President of Nutribiotech USA.
Nutribiotech’s significant growth is attributed to increased worldwide attention to general health and wellness and the rising demand for dietary supplements. Numerous studies estimate that the nutritional and dietary supplements industry annually generates over $130 billion in sales and they are expected to increase globally by nearly $100 billion in the next ten years.
Nutribiotech manufactures over 140 brands worldwide. Some of their customers include LG Household and Healthcare, Mannatech and Isagenix International. At present, their products are marketed in over 25 countries in North America, Europe and Asia.
As part of this expansion project, over 1,600 new jobs will be created in multiple phases of the project. “Food is one of our target industries and Nutribiotech has been a great addition in that regard. Further, this major expansion syncs perfectly with our larger corporate expansion strategy” said David Gwin, Garland’s Director of Economic Development.
Garland is home to numerous international companies. Some of the more recognized brands include Kraft-Heinz, Atlas Copco, Mapei Corporation and Van Rob. Since 2014, these four companies alone have added almost $70 million in additional value to the City’s ad valorem tax base. Garland continues to capture significant foreign investment interest.