Update (11:17 a.m.)
On Wednesday morning, the office of Texas Gov. Greg Abbott released more details about the new Producer Owned Beef processing plant in Amarillo.
According to the release, the facility is expected to harvest 3,000 cattle per day and sell beef and beef byproducts in Texas and throughout the county.
“‘Made in Texas’ is a powerful global brand and continues to attract investment from companies serving crucial industries,” Abbott said in the release. “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 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.”
State and local leaders also expressed their excitement regarding this new facility in Amarillo. According to the release, Potter County Judge Nancy Tanner said this project helps Amarillo and the county become a place “where both business and individuals can thrive.”
In the release, Amarillo Mayor Ginger Nelson also praised the project, saying:
“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. 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. The economic impact is monumental for Amarillo – a $670 million investment and more than 1,500 jobs with an estimated annual payroll of $120 million. This addition to our economy takes what has long been a strength for Amarillo – the beef industry – to another level and confirms that Amarillo is in an historic season of economic growth.”Amarillo Mayor Ginger Nelson
AMARILLO, Texas (KAMR/KCIT) – According to organizing officials, Texas Governor Greg Abbott announced support for the creation of a new beef processing facility in Amarillo through the state’s Texas Enterprise Fund on Wednesday.
On Wednesday at around 11 a.m. at the Six Car on South Polk Street, according to released event information, Abbott will be joined by other elected officials and company executives to offer remarks in a live telecast focused on the Texas Enterprise Fund and a brand reveal. After the remarks, invited event attendees will be offered a tour of the incoming company’s new location.
The Amarillo facility, run by Producer Owned Beef, will be the only one of its kind in the United States to be owned by cattle producers and operated by beef process industry veterans. According to organizers, the $670 million facility is expected to employ 1,500 to 1,600 at its full capacity.
According to the office of Texas Economic Development, the Texas Enterprise Fund is meant to award “deal-closing” grants to companies considering a new project for which a Texas site is competing with other out-of-state sites. Companies can apply if they are planning a new project that includes opening or expanding a facility, with “significant projected job creation and capital investment,” as the fund is intended to serve as a financial incentive for companies to contribute investments and employment opportunities to Texas.
In order to be eligible to apply for the fund, according to its published resource page, a company must meet certain requirements including:
- The single Texas site being considered for the project must be in active competition with at least one out-of-state site and the company must not have made a location decision. Actions signaling the company has made a location decision may include:
- Signing a lease
- Purchasing land
- Hiring employees
- Making a location announcement
- Projected new job creation must exceed 75 full-time jobs (urban areas) or 25 full-time jobs (rural areas).
- The total average wage for new jobs must meet or exceed the average county wage for the county in which the project would be located during the full term of the grant agreement.
- The company must demonstrate significant levels of planned capital investment, as determined by the Governor’s Office.
- The project must be supported by the city, county and/or school district in which the project would be located, particularly in the form of local economic incentive offers.
- The company must be well-established and financially sound.
- The company must operate in an advanced industry that affords it other feasible location options nationally and/or internationally.
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