North Platte Approves Support for Sustainable Beef Plant
Sustainable Beef has taken another step towards making a new $325 million beef processing facility in North Platte, Neb., a reality.
On Monday, North Platte’s Community Redevelopment Authority (CRA) unanimously approved a contract with Sustainable Beef, opening the door for tax increment financing for the infrastructure for the new plant.
The Community Redevelopment Authority will buy the land from the city of North Platte for $142,500 and then sell it to Sustainable Beef. All the financing for the plant's construction must be secured before work can begin, and Sustainable Beef is required to sign a construction contract with the CRA. It is unclear how much Sustainable Beef has raised for the facility to date.
“This is a big project. This is bold. It shows a lot of courage. This is pioneering,” CRA vice-chairman Rob Stefka said, according to the North Platte Bulletin.
David Briggs, CEO of Sustainable Beef, has said the plant will process 400,000 head per year, 100,000 of which will be cows. The plant would employ 875 workers and is expected to generate another 1,000 jobs in supporting businesses.
The North Platte Bulletin reported additional details about Sustainable Beef's agreement with the CRA, including:
Sustainable Beef must invest "at least" $300 million in the project and hire employees "legally."
Sustainable Beef will receive a $21.5 million TIF bond to cover the costs of street improvements and water lines, along with raising the plant's elevation above the area’s flood plain.
Sustainable Beef must adhere to specific odor standards; the CRA cited the standards followed by CS Beef Packers in Kuna, Idaho, as its guide.
Stefka thanked the parties involved in Sustainable Beef, and said, “Now maybe, from what I understand, we will have a better chance for a fairer price for our products in western Nebraska. We are finally getting help out west that we deserve and need.”
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