The Webster City, City Council has approved a development agreement providing up to $6.3 million in performance-based tax increment financing incentives to support the Company’s planned redevelopment and expansion of its Prairie Hills facility into a large-scale ready-to-drink (RTD) beverage production hub.

The performance-based agreement provides for up to 30 semi-annual economic development tax increment payments over a 15-year period beginning in late 2029, contingent upon project completion milestones, property ownership requirements, and ongoing compliance with the Company’s Iowa Economic Development Authority Business Incentives for Growth (BIG) program agreement. Incentive payments are funded solely from a portion of the new property tax revenues generated by the project and are subject to annual appropriation by the Webster City, City Council.

The incentive package supports Edible Garden’s planned $25+ million investment in the redevelopment and modernization of its Prairie Hills facility. The project builds upon the previously announced $2.66 million incentive package approved by the Iowa Economic Development Authority through its Business Incentives for Growth (BIG) program and advances the Company’s Farm-to-Formula® strategy focused on higher-margin, shelf-stable nutrition categories.

The 400,000-square-foot facility is being transformed into a high-capacity, technology-driven manufacturing platform focused on shelf-stable, plant- and dairy-based protein beverages. The platform is expected to leverage proprietary processing systems and advanced aseptic packaging technology supplied by Tetra Pak, a global leader in food processing and packaging solutions whose technologies help extend shelf life, reduce food waste and support more sustainable distribution, supporting Edible Garden’s Farm-to-Formula® strategy and enabling the efficient production and distribution of clean-label nutritional beverages at scale. At full capacity, the facility is expected to produce more than 100 million RTD beverage units annually, supporting national distribution and expanding Edible Garden’s consumer-packaged goods platform.