TAMA, Iowa (AP) — State officials have approved tax credits for developers to reopen a long-closed meatpacking plant in Tama that would eventually employ about 600 workers.
The Iowa Economic Development Authority Board approved $4 million in tax credits to Iowa Premium Beef on Friday. To receive the incentives, the company must create the jobs and offer a wage of $15.42 an hour to 120 employees.
The facility, which was shuttered in 2000, will help process Black Angus beef for food service, retail and international customers. Production is expected to begin in the fall.
The company behind the proposed $48 million project is made up of a group of investors.