News

North Platte gives green light to funding for Sustainable Beef plant

A producer-owned beef processing plant planned for Western Nebraska has reached a critical milestone that will allow the facility to secure funding. 

North Platte’s Community Redevelopment Authority (CRA) unanimously approved a contract with Sustainable Beef to be eligible for $21.5 million in tax increment financing.

TIF funding will be used to improve infrastructure like water lines and raising the plant above the flood plain. The agreement also requires Sustainable Beef to invest $300 million in the project, hire employees legally and adhere to specific odor standards.

CRA says it will buy the land from the city and sell it to Sustainable Beef for $142,500 and financing for construction must be secured before work can begins.

The plant is expected to process 400,000 head per year, employ 875 workers and add 1,000 jobs. The plant is expected to come online in 2023.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!