11/30/17 – Pinnacle Foods could bring as many as 100 new jobs to Beaver Dam after the company moves into the city. Pinnacle is purchasing Ryder Systems cold storage facility on Green Valley Road for $37-million dollars, with closing on the sale slated for the middle of next month. The Beaver Dam Community Development Committee Wednesday night approved a land purchase agreement with Pinnacle for seven acres south of the existing 327-thousand -square-foot building. Beaver Dam Area Development Corporation Vice President Trent Campbell says Pinnacle has plans for expansion and securing the adjacent land prior to finalizing the purchase is a major component of the plan. The seven acres would be sold to Pinnacle for one dollar, contingent on $5-million dollars in improvements being made in or around the current facility over five years. If the company fails to reach that benchmark, they would have to pay the city $150-thousand dollars for the land. Campbell says the terms of the deal indicate that Pinnacle would be retaining Ryder’s current workforce of 150 employees and, as the company expands, could add up to another 100 jobs. Pinnacle is expected to invest $32-to-$43-million dollars on upgrades to the Ryder facility. Campbell says that company officials have indicated that they would be going through a period of continued growth with two or three expansions anticipated through 2019. Ryder Systems does contract work for food processors and cold storage. Pinnacle’s major product is Birds Eye vegetables which would reportedly be packaged at the Beaver Dam facility.
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