Upper Iowa Beef Gets State Tax Incentives For $48 Million Expansion

State economic development officials agreed Friday to provide a northeast Iowa beef processing company with $1.5 million in tax credits to help with a $48 million expansion that will double production.

The Iowa Economic Development Authority Board approved providing Upper Iowa Beef, a processing plant in Lime Springs, with about $863,000 in tax credits, based on high-quality job creation, and nearly $650,000 that refunds sales and other taxes the company will spend expanding and equipping the plant.

Upper Iowa Beef, which purchases cattle from about 400 area cattle producers, said it expects it will create 172 jobs with the project, 33 of which will meet the state’s high-quality wage and benefit requirements.

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