The company wants to increase its meat processing capacity and will hire nearly 250 people when the plant opens in two years.
The Chief Operating Officer, Joseph Freda says the plant will process bacon.
"We bring in raw bellies, we brine them, inject them. We smoke them, press them, slice them, cook them, package them. Put them in a box and out to our customers."
The company, based in Pleasant Prairie, Wisconsin had many options for where to build its new plant, but Freda says they chose Davenport because of its central location with and skilled workforce.
Quad Cities Chamber of Commerce Interim CEO, Mike Oberhaus, emphasized the economic impact this will have on the community.
"The project's expected to have 182 million dollar annual economic impact into our region. One of the largest projects our region has come to be."
Fair Oaks plans to break ground sometime this summer and hopes to open the plant in 2024.
The city is expected to provide support for the project with money from a Tax Increment Financing district. The state of Iowa will be asked for a sales tax refund on the construction materials.