Upper Iowa Beef to expand production facility in L.S.

LIME SPRINGS - Iowa Economic Development Authority Board intends to award Upper Iowa Beef financial assistance.

Upper Iowa Beef, LLC, is a locally sourced, state-of-the-art beef processing facility in Lime Springs. The business is approaching its second year of successful operation and has positioned itself for this proposed expansion. 

Upper Iowa Beef plans to add 27,000 square feet to its existing facility to increase its processing capacity from 500 head to approximately 1,500 head per week. 

This expansion will serve Upper Iowa Beef’s 70 existing customers and enable it to grow its customer base. The board awarded the company tax benefits through HQJ (High Quality Jobs) Program for committing to invest nearly $7 million in new capital and create 75 jobs, 20 of which are incented at a qualifying wage of $21.73 per hour.

The total to be awarded over a five-year period is $396,862. That includes an investment tax credit $336,862 that will be amortized over five years, along with $59,550 for a refund of sales, service or use taxes paid during construction.