Delaware Prosperity Partnership Delawares nonprofit public-private economic development organization and Wilmingtons Office of Economic Development began working with New B&M Meats in 2020 to help the company evaluate scenarios for combining operations in the region to achieve its expansion goals.
New B&M Meats presented before the state Council for Development Finance today to request grant funding from the Delaware Strategic Fund. Approval for the grants by the Council helped solidify the companys decision to grow its Delaware presence through expansion of its current Wilmington location and construction of a new food production facility nearby.
I want to thank B&M Meats for their commitment to our state and choosing to expand their production in the City of Wilmington, said Governor John Carney. These new jobs will support Delaware workers and their families. This announcement once again proves that Delaware is a great place for companies to grow.
New B&M Meats currently employs 98 people in Wilmington. The company will use a Performance Grant of $195,975 to add 70 jobs to support organic growth at its existing Commerce Street location. The new facility will be completed along East Seventh Street on three parcels of land totaling 10 acres with support from a Capital Expenditure Grant of $555,300. A second Performance Grant of $359,450 will help the company add another 120 jobs at the new site to support increased production capacity, diversified product offerings and operational expansion through entry into new markets. The company plans to start construction on the new facility in 2022 and open it in late 2023 or early 2024.
We are very excited to welcome New B&M Meats to Wilmington as the company expands to the Seventh Street Peninsula, producing nearly 200 new jobs in the coming years, said Wilmington Mayor Mike Purzycki. Together with Light Action Productions new multi-million-dollar sound stage and the new CP Furniture factory, B&M Meats will augment the Seventh Street Peninsulas unique blend of business park and historic cultural amenities. My thanks to the Delaware Prosperity Partnership as well as Jeff Flynn and his team in Wilmingtons Office of Economic Development for helping to see this project through to fruition. It is just one more example of how Wilmington is on the move, continuing to attract new businesses, jobs, and residents to all parts of our city.
By 2026, New B&M Meats projects total employment of 288 people between the two Wilmington facilities. New positions will include production line workers; operators; maintenance and production supervisors; and shippers/handlers. The company is currently hiring for positions at the Commerce Street location, and interviews will begin in late 2023 or early 2024 for the Seventh Street facility.
As one of the largest Philly steak manufacturers in the country, were excited to grow our presence in the rapidly growing and vibrant Wilmington community, said Steve Realbuto, president. With a strong pool of talent, supportive local and state government, and proximity to critical transportation routes, Delaware is a great place for a manufacturing company to do business.
As we were looking for the site of our next facility, the City of Wilmington and State of Delaware were true partners every step of the way, said Chris Linteris, CFO. Jeff Flynn assisted us throughout the entire process, from searching for land and planning for development, he provided key introductions to local vendors and stakeholders. We would also like to thank our banking partner, ConnectOne Bank, for support of our continued growth. With these critical partnerships, we plan to continue our investment in the community and develop additional projects in the coming years.
B&M is a shining example of the critical role small and mid-size businesses play in fueling the local economies in which they operate, said Elizabeth Magennis, president of ConnectOne Bank. We are proud to support B&M in this exciting endeavor a client committed to creating opportunities to enhance local communities through its own growth and expansion.
About Delaware Prosperity Partnership
Delaware Prosperity Partnership leads Delawares economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting, and developing talent. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.
About New B&M Meats Inc.
Delaware-based New B&M Meats Inc. is part of the Wonder Meats family of businesses, which also includes Brooklyn Provisions, Broad Street Butcher, Lindee Corned Beef and Nations Best Deli Meats. Wonder Meats began as a family-owned storefront butcher shop in New York City in 1971 and has been based in Carlstadt, New Jersey, since 1994. Company President Steve Realbuto, whose father, Santo Realbuto, opened that first butcher shop 40 years ago, acquired B&M Meats in 2016.