Second act possible for Northern Beef Packers plant
March 11, 2014
by Meat&Poultry Staff
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ABERDEEN, SD – The Northern Beef Packers processing plant could re-open within two years, according to a Capital Journal report
Pat Costello, commissioner of economic development, recently met with a legislative panel to discuss the financial dealings of the Governor's Office of Economic Development (GOED) which became involved in a state and federal investigation into financial misconduct and involvement in the federal EB-5 program. The probe revealed that $550,000 of a $1 million payment intended to reimburse Northern Beef Packers for construction or equipment costs instead was used to pre-pay loan monitoring fees for the South Dakota Regional Center, Inc. (SDRC).
White Oak Global Advisors
, an investment banking firm, submitted the winning bid for the processing plant in Aberdeen. Costello said White Oak's interest in the plant "is a good sign"; and he added that he hoped the firm would manage the plant or find someone else to re-open it.