A proposed beef processing plant in western Iowa is seeking investors for its $450 million project, with some funding expected to come from the Biden administration’s recently announced meat and poultry supply chain action plan.
“We are in fundraising right now through various means, talking to a lot of investors at this point,” Chad Tentinger, founder and owner of TenCorp Inc., the project developer for Cattlemen’s Heritage, told WNAX radio. “We are 75 percent done with all blueprints and planning. We have the site under control. We have done grid sampling and boring samples to make sure it’s stable. We’re moving along quite nicely.”
Bill Menner of the Bill Menner Group, an Iowa-based consulting firm, said $75-90 million is available in grants to fund construction. Cattlemen’s Heritage is offering to sell 100,000 units to investors. The minimum purchase is 67 units for a total of $100,500. Each unit is $1,500.
The project is on schedule, he says, to be completed by late 2023 or early 2024. When complete, the facility would process roughly 400,000 head of cattle per year, about 1,500 head per day.
