Project Overview

CLIENT: ByHeart

Background/Opportunity:

ByHeart — a true pioneer in the field of infant nutrition — sought to become the U.S.’s fourth fully integrated, FDA-registered infant formula company, and the first in Pennsylvania, through the acquisition of a production/manufacturing facility located in Reading, PA.

In seeking to modify and expand the facility to meet its specific production needs, ByHeart undertook a multimillion-dollar initiative to build out the Reading plant.

To defray the significant cap-ex costs associated with the overhaul of the facility, ByHeart enlisted M:7 Agency to secure financial assistance through state economic development grant programs.

Strategy & Execution:

M:7 proactively engaged with ByHeart’s executive leadership team and on-site operations management as well as the Berks County Redevelopment Authority to develop a funding acquisition plan that was reflective of the project’s specific needs, budgeting, and timeframe. The focal point of the plan was the PA Office of the Budget’s Redevelopment Assistance Capital Program (RACP).

M:7 filled out and submitted two separate RACP applications with all required budget documentation as well as effective narrative responses, emphasizing key points such as ByHeart being one of only four such manufacturers in the U.S. The facility’s potential impact to the PA economy was also highlighted, specifically its benefit to the PA dairy industry, through boosted sales, new high-skilled manufacturing jobs, and reduced dairy waste while ensuring the state remains a hub for dairy excellence. M:7 also underscored existing supply shortages in the infant formula market impacting consumers as a result of the COVID-19 pandemic.

Throughout the duration of the project lifecycle, M:7 continued engagement and coordination with all internal project team members and served as the main point of contact with the PA Budget Office staff. All deadlines established by the PA Office of the Budget were successfully met or exceeded.