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Producer Owned Beef Launches with State of Texas Funding
from NMS Sept 22
Texas Governor Greg Abbott has announced that the State of Texas, through the Texas Enterprise Fund, intends to support the creation of Producer Owned Beef’s state-of-the-art beef processing facility in Amarillo – the only such facility in the nation to be owned by cattle producers and operated by beef processing industry veterans. Abbott’s office presented the award at a launch event in Amarillo with the support of Texas Economic Development Fund representatives, Amarillo Mayor, Ginger Nelson and Amarillo Economic Development Corporation CEO,
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The Governor’s Enterprise Fund $12.232 million announcement complements the Amarillo City Council’s unanimous decision to authorize Amarillo Economic Development Corporation (AEDC) incentives for Producer Owned Beef, LLC to build its new headquarters in Amarillo. Along with infrastructure improvements, the AEDC and City of Amarillo approved incentives of up to $11.1 million to establish the state-of-the-art facility – a $670 million capital investment. The facility, designed to process 3,000-plus head of cattle per day, aims to employ nearly 1,600 people from the High Plains region.
“The importance of Texas Enterprise Fund along with Amarillo EDC backing for this project cannot be overstated” said Casey Cameron, CEO of Producer Owned Beef. “Public-Private Partnerships are proven to attract additional investors and create a virtuous cycle of commerce, employment and tax revenue for our communities and state. Our commitment is to build and operate a beef processing facility that stands out from the rest of the industry in animal well-being, environmental protections, team member safety and ergonomics, and the highest quality beef products.”
Both Enterprise Fund and AEDC investments are performance-based having been designed for companies whose projects involve significant capital investment and the creation of jobs in Texas.
Producer Owned Beef Independent Model
Producer Owned Beef’s innovative business model restores balance in the beef industry by reversing compensation disparities cattle producers currently face. 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.
“Many of our ranchers and feeders are third-, fourth- or even fifth-generation producers who have invested their lives in feeding Americans,” said Monte Cluck, a Producer Owned Beef Board Member. “With this model, where producers are also owners, we’re creating economic sustainability for small and medium-sized producers by ensuring they receive a greater share of the financial upside for the hard work they do.”
Producer Owned Beef Facility Numbers
Ї $670 million state-of-the-art
processing facility Ї 3,000-plus head per day processing capacity Ї Expected employment of up to 1,600 at full capacity Ї Expected payroll: $121 million annually Ї Expected groundbreaking: Q1 2023 Ї Expected operating date: Q4 2025 Ї Locations: 1,108 acres on Jack Rabbit
Road (Spur 228) between I-40 and
Hwy 287
Economic Impact Report
Please find Producer Owned Beef’s economic impact study created by the Perryman Group at the company’s website: www.producerownedbeef.com
Executive Team Bios
Please find bios for Producer Owned Beef’s senior management team at the company’s website: www.producerownedbeef.com Ї Casey Cameron, CEO – is a lifelong cattle producer, active in multiple ranching states and communities. Ї Monte Cluck is a lifelong feeder, cow-calf and stocker producer and along with numerous other business interests, is CEO of Dean Cluck
Feedyard and general partner of Dean
Cluck Cattle Company and lives in
Boerne, Texas. Monte has been recognized for his leadership and service for several organizations including the 2020 National Golden
Spur Award. Ї Cassie Fish, Executive Vice President – has been a consultant in the cattle feeding and meat packing industry since 2006. She was Senior Director of
Risk Management at Tyson responsible for corporate cattle feeding and is a leading expert on packing plant capacity and utilization. Ї Dean Hanish, CFO – has invested his career in accounting, finance, and investor relations for the meat packing industry at IBP, Tyson Fresh
Meats and as a consultant.
About Producer Owned Beef
Producer Owned Beef is a business cooperative purpose-built to imagine, capitalize and operate a state-of-the-art beef packing facility in Amarillo, Texas. The company’s majority equity owners are cattle ranchers and feeders, making it unique in the beef processing industry. High-quality beef products sourced primarily from the High Plains region are expected to be available to consumers in 2025. ▫
Convenience Reigns, Even As Consumers Still Eat-At-Home
by Lisa M. Keefe, meatingplace.com
Consumers need their grocery stores to provide them with meal “solutions” now more than ever, pointing to a generation of people cooking at home more but having little patience or expertise in the finer points of the culinary arts, according to new research by the Food Industry Association (FMI).
In its U.S. Grocery Shopper Trends 2022 “Future Outlook,” FMI measured the ways various forces how we eat, what we eat, and how we obtain food.
FMI President and CEO Leslie G. Sarasin, said in a release, “Our relationship with food continues to be complicated due to a host of factors, including a strained economy, a continued pandemic, ongoing supply chain issues, adoptions of new technology, and how we hold ourselves accountable for our food choices and our overall approach to eating.
“We’re still cooking at home more than ever before, but our enthusiasm for doing so has waned to pre-pandemic levels, suggesting consumers are looking for fresh prepared and ready-to-prep meal inspirations and solutions to address their inconsistent schedules and tightening budgets.”
How we eat
Most consumers say they plan their meals in advance, and meal preparation is getting faster. Three-quarters (74 percent) say it takes less than one hour to prepare their meals, and 30 percent say they spend less than 30 minutes, a faster rate than in recent years. As well, 48 percent of consumers say they take a specific approach to eating, “incorporating certain principles that reflect kindness to oneself, an awareness of holistic wellness, and careful attention to how food makes them feel,” the release said.
What we eat
Shoppers say their healthy eating habits remain strong, despite fewer of them putting in the extra effort to eat healthy foods. In fact, 28 percent of Americans tell FMI they put a lot of effort into selecting nutritious and healthy options, while 48 percent put in some effort compared with 36 percent and 46 percent, respectively, in 2021.
Shopper trends also say they will be more selective about where they invest their food dollars in an inflationary environment. The number of shoppers citing an increase in grocery spending climbed to 46 percent in 2022 from 37 percent in 2021. While last year’s figure should be attributed to the shift toward food at home, this year’s increase includes food inflation. However, it’s important to note that this survey was fielded before inflation’s more aggressive ascent.
How we obtain food
While the pandemic-driven surge in online use has persisted, more shoppers have learned how best to use a hybrid landscape to meet their needs. Shoppers say they plan their meals in advance more and shop online more, with little sign of a return to a pre-pandemic orientation. “Future Outlook” implies that in the longer term, food retailers will need to adjust to shopper expectations that put the consumer in control as it relates to the online experience, while in-person store visits will need to enhance convenience. ▫
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