Producer Owned Beef (POB) will create a new beef processing plant in Amarillo, Texas.
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The plant will harvest 3,000 cattle per day and sell beef and beef byproducts both in and out of Texas. The new facility allows Texas cattle producers to access the value chain and keep hundreds of millions of dollars in Texas.
The project will create more than 1,500 new jobs and generate $670 million in capital investment. A Texas Enterprise Fund (TEF) grant of $12.2 million has been extended to POB.
In addition, a Veteran Created Job Bonus of $8,000 has been offered.
"'Made in Texas' is a powerful global brand and continues to attract investment from companies serving crucial industries," said Governor Abbott.
"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."
“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,” said Ginger Nelson, Mayor of Amarillo.
“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." ■
A very active and complex mid-May weather pattern is set to produce numerous areas of severe weather, heavy rain, high winds, and anomalous temperatures through this weekend.