North Platte Expected To Invest In Sustainable Beef
The proposed Sustainable Beef processing plant announced for North Platte, Neb., will likely receive $1 million from the North Platte Quality Growth Fund. The funds will be in the form of a forgivable loan and will be used to help pay for the estimated $10 million cost of architectural, engineering, planning and other professional services for the facility.
According to the North Platte Bulletin, the city council will make the final decision be generally acts on the advisory board’s recommendations. The $1 million loan would be completely forgiven when the company reaches a $20 million payroll.
In March a group of Nebraska cattlemen and businessmen announced plans to build the new facility under the name Sustainable Beef LLC. The facility was described as a $300 million, 300,000-square-foot plant about a mile from Interstate 80’s Exit 179 in west-central Nebraska.
David Briggs, CEO of Sustainable Beef, said the plant will process 400,000 head per year, 100,000 of which will be cows. The Big Four packers do not process cows. He said the plant would fill a need in the beef market.
He said the plant would process 400,000 head per year, 100,000 of which will be cows. The Big Four packers do not process cows. He said the plant would fill a need in the beef market.
“Lots of people are watching to see if it is going to work,” Briggs said. “(We believe that) people will fight for this product.” The estimated costs was $236 million when the project was first conceived, but the estimate has increased to $325 million due to sharply higher costs for building materials.
He said the plant would employ 875 workers and is expected to generate another 1,000 jobs in supporting businesses. Briggs called the location ideal, within one mile of I-80 and along Newberry Road, a highway link that is expected to be expanded to four lanes in coming years.