Area beef producers announce $670 million investment into facility
AMARILLO, Texas (KFDA) - Area beef producers announce their $670 million investment in a facility to process cattle into beef.
The facility, Producer Owned Beef, will be at the Interstate 40 and U.S. Highway 287 split east of Amarillo.
Governor Greg Abbott announced today the Texas Enterprise Fund will contribute $12.2 million to the project on top of the $11.1 million of incentives from the Amarillo Economic Development Corporation.
“‘Made in Texas’ is a powerful global brand and continues to attract investment from companies serving crucial industries,” said Gov. Abbott. “Producer Owned Beef’s selection of Amarillo for its new beef processing plant further reinforces the Panhandle as a leader in the U.S. beef production and will create over 1,500 new jobs and millions in investment for the region. We welcome Producer Owned Beef to Amarillo and look forward to working with the company to keep Texas the economic engine of the nation.”
According to a news release, when they reach full capacity, there will be 1,600 employees there.
“More than 1,500 jobs with this project but as it grows as we bring new jobs and we increase the people that’re living in the city its good for us economically across the board,” said Mayor of Amarillo Ginger Nelson.
The plant will ultimately have the capacity to process more than 3,000 head of cattle per day.
“We are excited about the continued momentum of Producer Owned Beef with the Governor’s support through the Texas Enterprise Fund,” said Casey Cameron, CEO of Producer Owned Beef. “This further reinforces the Amarillo Economic Development Corporation and the City of Amarillo’s commitment to building our new beef processing plant in Amarillo.”
The new facility will allow the producer to be closer to the process.
“One of the most exciting things with the exception with it being here in Texas that’s exciting as well. It allows the producer’s that are involved in this project to access the value chain further than they’ve ever been able to do before,” said Monte Cluck, vice president of producer relationships.
According to a news release, the facility will have an estimated $670 million impact in capital expenditure and $120 million in annual payroll in Amarillo.
“Beef and beef production are part of Amarillo’s culture and history, with nearly 28 percent of cattle fed in the United States coming from the Texas Panhandle region,” said Mayor Ginger Nelson. “Beef is a staple of the Amarillo economy, and the addition of Producer Owned Beef, LLC, enhances Amarillo’s role in the beef industry on a national scale.”
Cassie Fisher, Executive Vice President, says many cattle producers from across the nation have shown interest in joining the partnership.
“The producer will be able to share in that value chain and they will be able to access the whole-sell beef market and be closer to the consumer so its attracting interest all over but the cattle will be fed here in Texas eastern New Mexico, and the Oklahoma panhandle,” said Cassie Fisher.
The expected groundbreaking will be in the first quarter of 2023 with the completion at the end of 2025.
Copyright 2022 KFDA. All rights reserved.