Governor Tom Wolf Thursday announced an additional $8.25 million investment in ByHeart, the nation’s newest FDA-registered baby formula manufacturer, located in Exeter Township. 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 Governor 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 governor’s total investment in ByHeart to $10 million through the Redevelopment Assistance Capital Program (RACP). The additional investment announced Thursday, along with continued private investments, supports increased capacity and hiring that will allow ByHeart to feed an additional 500,000 babies within two years’ time, and nearly half that within six months. The additional 500,000 babies represents more than 15% of new births in the U.S. annually.
“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,” explained ByHeart Co-Founder and President Mia Funt.
“We continue to be grateful for the visionary leaders of the Commonwealth, and the support of Governor Wolf and so many others to move quickly to be part of the solution to this national crisis.”
The initial $1.75 million RACP investment enables ByHeart to complete their canning line and dry blend area at their new facility in Exeter Township, 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 for the Reading community.
Pennsylvania is the first state in the nation to directly invest in a partial solution to the nation’s formula shortage. ByHeart’s FDA registration strengthens the U.S. infant nutrition supply chain.