Cargill is set to invest $111m to transform its ground beef facility in Columbus, Nebraska, to cooked meats facility.
This conversion, which will begin in early December this year, will enable the company to produce specific types of cooked meat products for its customers.
The company plans to start cooked meat production in the middle of 2016. The conversion is expected to lead to 80 job cuts at the Columbus facility.
The investment will also see its ground beef production being moved to existing processing facilities at Butler in Wisconsin and at Forth Worth in Texas.
The company plans to take $27m out of its total funding package to contribute towards ground beef plants at Butler and Fort Worth, where new production lines will be added.
This addition will facilitate increased capacity, improved efficiency and offer better foodservice to Cargill's customers.
Cargill Turkey and Cooked Meats president John Niemann said: "When completed, our Columbus plant will give us a variety of cooked meat processing capabilities we currently don't have, and those new capabilities will provide our customers with more options to help them grow their businesses.
"These changes will better position us to serve a variety of Cargill customers while enhancing our ability to provide them with products and support they value."
The Columbus cooked meats facility, which will become fully functional by 2017, will employ the same number of 250 people that are now working on the ground beef plant.