Here's your Forbes Daily Briefing for Monday, April 28th.

Today on Forbes, why Chobani's billionaire founder is investing $1.2 billion in a state-of-the-art New York dairy.

Chobani's billionaire founder is going all in on being American-made.

CEO Hamdi Ulakaya broke ground last week on a new state-of-the-art facility in upstate New York.

It will produce one billion pounds of Chobani's yogurts, creamers, and other products.

Ulukaya says he will invest $1.2 billion in all, and the plan comes just a month after he also revealed he is

spending $500 million to expand Chobani's plant in Idaho. And he says this is just the start.

Speaking about the expansion, the 52-year-old Ulakaa tells Forbes, quote,

A lot of good food hasn't been made accessible to all. And if you figure out how to make it

accessible to all, the hardest part is how do you make sure that you actually have the manufacturing

capability to do it. We do everything in-house, 100% of the products we make. It's hard to do

because that means plants. As America's top-selling yogurt brand with $3 billion in annual revenue, and yogurt sales up 20%

last year, Chobani is in a position most food companies would envy.

Chobani, which acquired La Cologne Coffee for $900 million in 2023, is one of the largest independent and privately held

brands in the consumer packaged goods industry. And it's made Ula Kaya, an immigrant from Turkey,

who owns the majority of the business, worth an estimated $2.4 billion. Now, Ulukaya is using his clout to double down on the northeast at a time when

the region has faced an exodus of dairy farmers. Chobani and the New York governor's office

are calling the investment the nation's largest in natural food manufacturing. The new plant will be

financed through Chobani's cash on hand. A Chobani spokesperson said,

quote, these projects are multi-year projects that do not require the company to take on any

additional debt at this time. In addition, incentives from New York State include $73 million

in tax credits over 10 years and $22 million from an economic development

...