Lawmakers also approved a three million dollar loan for the meat-packing plant in Tama. Representative Lance Horbach, a Republican from Tama, says the Iowa Quality Beef Supply Cooperative will fill a void. Horbach says eight out of 10 cattle raised in Iowa have to be slaughtered out of state, and this venture will help cattle producers in Iowa have a stake in not only their cattle, but in the meat that’s marketed to supermarkets. Horbach says the three MILLION is a start-up loan.Horbach says it’ll help make payroll immediately, and he expects the loan to repaid easily since projected yearly sales are over 300-MILLION dollars. The loan is to be repaid in three years, and comes from the Iowa Ag Finance Authority.
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