TAMA, Iowa – Iowa Premium Beef opened its doors after a three-year hiatus and a $48.5 million renovation.

The new 200,000 sq. ft. facility in Tama, Iowa will be a custom processor for cattle producers who sell their own branded beef. IPB also plans to buy cattle as well as to market its own beef. The plant will start processing five head an hour with 450 employees, according to local news reports. The facility will gradually expand to 1,100 head of cattle a week and 600 employees.

The facility has had multiple owners and multiple closures. Originally called Tama Meat Packing, the facility was built in 1971. Since then it has operated under several owners, including Tyson Fresh Meats. The 900-member Iowa Quality Beef Supply Cooperative shut down the plant in August of 2004 citing tight supplies of cattle for slaughter.