Across the border, Kraft Foods is expanding its 125,000-sq.-ft. (11,613-sq.-m.) plant in Beaver Dam, Wis., adding 45,000 sq. ft. (4,181 sq.m.) to produce more Philadelphia cream cheese and Kraft Quality Dips. "Our volume grew 13 percent in 1999 and we are anticipating growth to continue in 2000 and beyond," says Joe Metzger, plant manager. "With a projected cost of $15 million for construction and new equipment, this is a significant investment for Kraft."

On the other side of the Atlantic, multinational food and beverage companies like Unilever and Pepsico are investing in Slovakia, while Cargill is opening a new plant in Donetsk in the Ukraine.

At a time of mergers and consolidations in the food and beverage industry, there's still plenty of investment in new plants and expansion projects, although the pace of activity is significantly below the technology manufacturing sector. This reflects the stability of food and beverage consumption rates in most developed nations, which have slower population increases. In fact, the greatest opportunities for new facilities may be in international markets like India, Mexico and Brazil.

Other potential growth areas include niche markets, especially organic foods, premium-priced gourmet foods, and regional products with a geographic appeal like "Vermont maple syrup" or "Wisconsin cheddar cheese." The growth of the Internet has spawned new opportunities as well. International Menu Solutions Inc., for instance, has developed menuAtHome.com, which provides restaurant-quality meals ordered via the Internet in several southern Ontario communities.