The Amarillo City Council in Texas has voted to approve economic development related incentives for producer-owned beef packing plant Producer Owned Beef LLC.
The Amarillo Globe-News reported the council voted to provide the plant with $8 million for the creation of jobs to be paid out over five years, 610 acres worth $3.1 million, and abatement of future taxes on construction and equipment costs at 100 percent abatement for 10 years on $650 million in estimated costs.
The agreement will also designate the city to design and construct a water main extension and meter at $3.45 million, participate in a sanitary sewer extension, charge permit fees and water rates, and require the plant to consent to future annexation of the property.
The packing plant would employ 1,600 workers and could bring $7 million in economic impacts over 20 years to the city.
