New beef processing plant to be built in the USA
An Iowa beef processor, Cattlemen’s Heritage Beef Company, has announced that Karis Capital of Naples, Florida, an equity real estate company, is investing $150 million in the packer’s planned facility in Mills County. The investment will allow Cattlemen’s Heritage to advance with the groundbreaking for the plant later this year.
“This $150 million strategic investment by Karis represents a critical milestone in the Cattlemen’s Heritage plant,” said Chad Tentinger, principal developer for the project. According to Tentinger, the Karis Capital investment paves the way for additional funding and partnerships.
“Given the public interest and benefits associated with the project, we continue to work with federal, state and local government officials who have previously expressed support,” Tentinger said.
In addition, the Cattlemen’s Heritage plant will represent an economic gain of $8 billion for the state of Iowa through construction and plant operations until 2028, according to analysis by Ernie Goss, the Jack A. MacAllister Chair in Regional Economics at Creighton University.
Currently, Iowa farmers are transporting approximately one million head of cattle out of state each year, causing the state to miss significant opportunities for jobs, income, economic activity and tax revenues.
Source: emeat by materials agdaily.com