• 80 Acres Farms, a US-based vertical farm that produces greens, herbs, and vegetables, has announced that it is building a new vertical farm in Boone County, Kentucky. The farm is expected to begin operations in Q3 2022.

• 80 Acres Farm will invest USD 74 million to convert an existing 200,000 sq ft building into a vertical arm, which will handle harvesting and distribution of berries, leafy greens, microgreens, and tomatoes to the local market in the surrounding area. 

• The company has also signed a 10-year incentive agreement under the Kentucky Business Investment program with the Kentucky Economic Development Finance Authority (KEDFA). According to the agreement, 80 Acres can receive tax incentives up to USD 2 million if it meets targets such as providing 125 full-time jobs for 10 years and paying employees an average pay rate of USD 45 per hour.

<ul><li> Analyst Quicktake: 80 Acres Farms has been focusing on expanding its presence across the US. This will reportedly be the ninth facility operated by the company, ahead of its rivals Bowery Farming (4 farms) and Kalera (4 farms). The company’s expansion comes amidst increasing demand for its vertically grown produce. In March 2021 , the company extended its partnership with Kroger to supply 316 stores across Ohio, Cincinnati, and Indiana. Upon raising USD 160 million in Series B funding in August 2021 , 80 Acres Farms reported that its products are available across 600 retail and foodservice locations.</ul>