The North Platte Community Redevelopment Authority voted 5-0 on Nov. 2 for Sustainable Beef LLC to build the processing plant on a retired sewer lagoon.
The redevelopment plan calls for the 80-acre retired lagoon to be sold for $142,500—but not until Sustainable Beef proves its $325 million in financing is complete and presents a signed construction contract.
According to the North Platte Telegraph, “The plan would provide $21.5 million in tax increment financing, all but $3 million of which would help beef-plant organizers raise the 8- to 10-foot-deep lagoon.”
The redevelopment plan goes to the planning commission for its next meeting on Nov. 23, and if approved, the city council will hold a hearing before its projected final vote on Dec. 7.
The redevelopment plan coincides with a study by Creighton University showing the plant will provide an annual $1 billion boost and provide 1,974 direct and indirect jobs to the North Platte economy.
Sustainable Beef leaders hoped for a September construction start date and hope to begin slaughtering 1,500 head of cattle a day in North Platte in 2023.
