Texas Gov. Greg Abbott introduced right this moment that enterprise cooperative Producer Owned Beef LLC (POB) will create a brand new beef processing plant in Amarillo. The plant, which would be the solely such facility within the nation to be owned by cattle producers and operated by beef processing trade veterans, will harvest 3,000 cattle per day and promote beef and beef byproducts each out and in of Texas.
The undertaking will create greater than 1,500 new jobs, generate $670 million in capital funding and have an estimated annual payroll of $120 million. A Texas Enterprise Fund (TEF) grant of $12.2 million has been prolonged to POB in addition to a Veteran Created Job Bonus of $8,000 has been supplied.
“‘Made in Texas’ is a strong world model and continues to draw funding from firms serving essential industries,” mentioned Gov. Abbott. “Producer Owned Beef’s choice of Amarillo for its new beef processing plant additional reinforces the Panhandle as a pacesetter in U.S. beef and beef manufacturing and can create over 1,500 new jobs and thousands and thousands in funding for the area. We welcome Producer Owned Beef to Amarillo and stay up for working with the corporate to maintain Texas the financial engine of the nation.”
Casey Cameron, chief govt officer of Producer Owned Beef, commented, “We’re excited in regards to the continued momentum of Producer Owned Beef with the Governor’s help by way of the Texas Enterprise Fund. This additional reinforces the Amarillo Financial Growth Company and the Metropolis of Amarillo’s dedication to constructing our new beef processing plant in Amarillo.”
Texas State Rep. 4 Worth, R, mentioned having a secure U.S. meals provide is important to nationwide safety. “This extra beef processing facility in Texas will assist meet our shopper demand for high quality protein for the household dinner desk.”
Groundbreaking is deliberate for Q1 2023, with an anticipated working date of This fall 2025.
Producer owned beef impartial mannequin
Producer Owned Beef’s modern enterprise mannequin restores stability within the beef trade by reversing compensation disparities cattle producers presently face. As homeowners of the corporate, producers will obtain a proportion of wholesale beef costs for the cattle they provide and a share of the income from the plant.
“A lot of our ranchers and feeders are third-, fourth- and even fifth-generation producers who’ve invested their lives in feeding People,” mentioned Monte Cluck, a POB board member. “With this mannequin, the place producers are additionally homeowners, we’re creating financial sustainability for small and medium-sized producers by guaranteeing they obtain a larger share of the monetary upside for the onerous work they do.”