Texas cattle producers will invest $670 million in a new beef-processing plant in Amarillo according to a Dallas Morning News article which reports,
“Texas cattle producers will invest $670 million in a new beef processing plant in Amarillo that’s expected to create 1,600 jobs.
Producer Owned Beef’s state-of-the-art facility, designed to slaughter 3,000 cattle a day, will be backed by nearly $24 million in state and local tax incentives when it breaks ground next year. More than $12 million will come from the Texas Enterprise Fund, the governor’s pot of money for closing economic development deals.”
The new facility will help Texas cattle producers to access the value chain according to a The Center Square article which says,
“Producer Owned Beef, LLC is building a new beef processing plant in Amarillo that will allow Texas cattle producers to access the value chain and keep hundreds of millions of dollars in Texas.
“‘Made in Texas’ is a powerful global brand and continues to attract investment from companies serving crucial industries,” Gov. Greg Abbott said. “Producer Owned Beef’s selection of Amarillo for its new beef processing plant further reinforces the Panhandle as a leader in U.S. beef and beef production.””
The facility will bring in about 1,600 jobs and will add nearly $1 billion to the state’s gross product in its first year of operations.