Tyson Foods Inc. announced it will invest $70 million to build a state-of-the-art hatchery in Hope, Arkansas.

The new hatchery will replace an existing facility and triple the capacity, feeding into operational efficiencies at the company’s nearby poultry processing complexes in Hope and Nashville, Ark. Construction on the 131,000-sq.-ft. hatchery is expected to be completed by late 2024.

“This investment is another way to demonstrate our long-term commitment to our home state of Arkansas and the Hope and Nashville communities,” said Donnie King, president and CEO of Tyson Foods, in the release.

The new hatchery will employ team members from the existing facility and create new job opportunities for the residents of Hope and surrounding areas. It will also provide new contract opportunities for prospective poultry farmers.