Producer Owned Beef will establish a new beef processing plant in Amarillo, Texas. The $670 million project is expected to create 1,500 jobs.
The new facility will harvest 3,000 cattle per day and sell beef and beef byproducts both in and out of Texas. Located on Jackrabbit Road between Interstate 40 and U.S. Highway 287, the operation is expected to begin production in 2025.
"We are excited about the continued momentum of Producer Owned Beef with the Governor's support through the Texas Enterprise Fund,” said Casey Cameron, CEO of Producer Owned Beef. “This further reinforces the Amarillo Economic Development Corporation and the City of Amarillo's commitment to building our new beef processing plant in Amarillo.”
A Texas Enterprise Fund 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 Greg 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."
Producer Owned Beef said its cooperative business model seeks to restore balance in the beef industry by reversing pay disparities for cattle producers. As owners of the company, producers will receive a percentage of wholesale beef prices for the cattle they supply and a share of the profits from the plant.
“Producer Owned Beef will have an incredible impact on the Amarillo area through the estimated $670 million in capital expenditure and $120 million in annual payroll,” said Kevin Carter, CEO of Amarillo Economic Development Corporation. “This project further positions Amarillo as a global leader in food processing. Being selected as POB’s location for operation signifies that Amarillo is and will continue to be an ideal location to do business. Thank you to the Governor’s Office for their support in awarding the Texas Enterprise Fund grant.”