With the infant formula shortage continuing to be a problem in the U.S., Pennsylvania Gov. Tom Wolf has announced an additional $8.25 million investment in ByHeart.
ByHeart is the nation’s newest FDA-registered baby formula manufacturer and is located in Reading..
The investment will support increased capacity and hiring that will ultimately feed up to 500,000 more babies.
“I promised to do everything I can to support Pennsylvania families, this $8.25 million investment does just that by allowing ByHeart to continue scaling up their business and nourishing more babies,” said Wolf. “What ByHeart is doing is amazing and innovative, I’m proud to invest in them and that they chose Pennsylvania as home.”
The $8.25 million investment brings the state’s total investment in ByHeart to $10 million. The money is coming through the state’s Redevelopment Assistance Capital Program (RACP).
“We are in a period of unprecedented demand and are incredibly proud to be in a position – as both the first new infant formula manufacturer to be registered by the FDA in 15 years, and as a company dedicated to farm-to-formula oversight and quality – to be able to pull levers to increase capacity and scale as quickly as possible to support parents during this challenging time,” said ByHeart Co-Founder and President Mia Funt.
The initial $1.75 million RACP investment enabled ByHeart to complete their canning line and dry blend area at their new facility in Reading, contributing to the supply chain ByHeart has built, as the fifth infant formula manufacturer in the United States and the first new FDA-registered manufacturer to hit the market in more than 15 years. The state investment also supports the creation of 50 new jobs in Reading.