ADM Celebrates Opening of New Food Bus. Incubator that Seeks to Spur Innovation, Expand Economic Opportunity in Central Illin...
20 April 2016 - 4:00AM
Business Wire
- National Foodworks Services to leverage
ADM’s investment, industry expertise and logistics to help get food
innovations into commercial production
- Launch of Food Innovation Challenge
incentivizes regional entrepreneurs to pitch new food ideas
Archer Daniels Midland Company (NYSE: ADM) today celebrated the
grand opening of the new headquarters of National Foodworks
Services LLC, a local food innovation center in Decatur, Ill.,
funded in part by ADM and founded by local entrepreneurs Jim Milano
and Tony Caccomo.
As a food-business incubator, NFS aims to usher in a new wave of
opportunity for entrepreneurs and the community-at-large. Working
together, ADM and NFS are able to offer resources, expertise and
facilities needed to help customers and third parties innovate to
address changing consumer preferences.
“ADM has one of the broadest ingredient portfolios in the food
and beverage industry, exceptional research and development
capabilities, deep experience in product commercialization, and an
unparalleled logistics network,” said ADM Chairman and CEO Juan
Luciano. “Our friends at NFS, meanwhile, are well-versed in helping
smaller entrepreneurs bring bold new ideas to market. Together, we
can help make Central Illinois a prominent new center for food
innovation, in the process spurring economic growth in our
region.”
To that end, ADM announced the launch of the Food Innovation
Challenge, designed to inspire more entrepreneurs to develop and
commercialize their innovations in Decatur. The Food Innovation
Challenge will help connect entrepreneurs with industry experts and
investors, and the First Place Grand Prize Winner will receive
$50,000 in seed funding and an additional $50,000 of in-kind
services from NFS for marketing, production and commercialization
assistance. Additional details are available at
www.foodinnovationchallenge.com.
ADM invested $2 million to help NFS develop a 40,000-square-foot
manufacturing complex at the former Brush College School in
Decatur, adjacent to ADM’s James R. Randall Research Center.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 32,300 employees serving customers in more than 160
countries. With a global value chain that includes 428 crop
procurement locations, 280 ingredient manufacturing facilities, 39
innovation centers and the world’s premier crop transportation
network, we connect the harvest to the home, making products for
food, animal feed, industrial and energy uses. Learn more at
www.adm.com.
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Archer Daniels Midland CompanyMedia
RelationsJackie Anderson312-634-8484media@adm.com
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