Post Harvest Technologies, Inc. (PHT), a management, investment and consulting company with six portfolio companies focused on the post-harvest agriculture industry, unveiled plans this week for the redevelopment of PHT’s 28-acre commercial pre-cooling, cold storage and processing campus located in Salinas, California. The project is estimated to cost $250 million and will feature robotics, solar-lined shade canopy, and infrastructure upgrades
The new state-of-the-art facility is designed to support the movement of fresh produce from field to table, and will employ renewable energy and automation to maximize throughput, extend produce shelf life, and minimize costs.
To support investment in the region, PHT has launched PHT Opportunity Fund, LP – a qualified opportunity fund that drives economic growth through strategic investments in low-income urban and rural communities. PHT Chairman & CEO, Dr. Jim White, invites investors to experience the benefits behind investing capital gains in the various opportunities offered by PHT Opportunity Fund.
A Qualified Opportunity Fund (QOF) is an investment vehicle created as part of the Tax Cuts and Jobs Act (TCJA) enacted in December 2017, to incentivize investment in communities identified as Qualified Opportunity Zones (QOZ), in an effort to spur economic development in historically under-resourced communities.
“The unique tax advantages of Opportunity Fund investments are something investors all over the United States should be examining,” said Jim White, PhD, president & CEO of PHT Opportunity Fund, LP. “This program is already doing great things for the country, and we are eager to contribute to the momentum by establishing the very first institutional-caliber investment platform for groups and individuals to gain exposure to this mission-critical asset class.”
Salinas Valley is widely known as “The Salad Bowl of the World,” produces the majority of our nation’s fresh vegetables and leafy greens; roughly 70% of the total U.S. lettuce crop. The redevelopment will transform the campus into the most technologically-advanced temperature-controlled facility in the nation to help safeguard the nation’s fresh food supply into the future.