Biggest agribusiness companies are pulling out of Ohio

In Ohio, the agricultural industry is facing another round of uncertainty as its largest agribu­sion company, American Farm Bureau Federation, announced plans to pull out of the state.

In a press release, American said it will move its headquarters from Ohio to a facility in Georgia, a move that will take place in January 2018.

The move will create a one-year gap for the company, which is based in Springfield, Ohio, to continue operations there. 

American said it plans to invest approximately $3 billion in its new facility, and said it would focus on expanding operations in the state, including expanding its presence in rural communities. 

“We have been focused on expanding our presence in Ohio for a number of years, and our plan to stay in Ohio remains the same,” American said in a statement. 

The move is not expected to affect the number of jobs that American will have at the Springfield facility. 

On Wednesday, the Ohio State Board of Agriculture announced that the company had agreed to a buyout of its remaining stock in 2018. 

 “This acquisition is expected to create about 1,000 new jobs in the region,” OSBI spokesman Jason Daugherty said in the release. 

It’s unclear whether the Ohio state board will approve the deal. 

Earlier this year, American announced it would invest $50 million in the Springfield location. 

This year, the company announced plans for another $50.5 million in expansion to the Springfield site.

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