Published: 3:04 pm, Wed. Oct. 4th, 2017Updated: 3:03 pm
The new facility will support local dairy and cattle growers by enabling them to get their products to market more efficiently.
“Results like these show the importance of fighting for tools and reforms like our closing fund,” said Martinez. “Our closing fund helps companies grow and hire more New Mexicans – in communities large and small all across the state. With projects like these, we’ll continue our momentum in growing and diversifying our economy.”
USA Beef will invest more than $5.4 million to renovate and open their new facility. The facility will serve local dairies and cattle growers, allowing them to process their cattle locally. This will cut down on costs for local producers.
“Thanks to Governor Martinez’s efforts to make New Mexico more business friendly and to grow the LEDA fund, we’re able to make our new facility a reality,” said Jose Madrid, CEO of USA Beef. “We’re proud to add new jobs in Chaves County and to bring much needed services to local dairy farmers and cattle growers.”
The New Mexico Economic Development Department will invest $400,000 in Local Economic Development Act (LEDA) funds into USA Beef’s facility. LEDA is New Mexico’s closing fund, a tool that recruits new businesses to the state while helping those that are already here grow and thrive.
“Once again we’re using our powerful economic development tools to help a local enterprise succeed,” said Economic Development Secretary Matt Geisel. “The governor’s commitment to making New Mexico more competitive continues to deliver results is helping our homegrown businesses like USA Beef grow and thrive.”