KANSAS CITY, MO. – Iowa Premium, a subsidiary of National Beef Packing Co. LLC, recently received a $14 million commitment from the State of Iowa to help fund its new facility.
The company plans to construct a new 800,000-square-foot beef processing plant in Tama, Iowa, including $562 million in capital investments. Iowa Premium already has a facility in Tama that has a current capacity of about 1,250 head of cattle per day. The company wants to double capacity from the existing plant.
According to the Iowa Economic Development Authority (IEDA), Iowa Premium plans to add 396 jobs with 383 incented at a qualifying wage of $20.34 per hour.
IEDA said that 769 people already work in Tama. The commitment being finalized is dependent on a three-year, 100% property tax abatement that must be approved by the Tama City Council.
Construction is expected to begin in 2022, with the new expansion of the facility completed by 2024. National Beef first announced an expansion plan of its Iowa Premium plant in March 2021.
National Beef purchased Iowa Premium in 2019. The company sells its product under the brands Iowa Premium Angus and Est. 8 Angus.
IEDA records showed that Iowa Premium Beef received a commitment from the State of Iowa in April 2014.