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Supervisors approve loan

(Supervisors approve a loan to One World Beef)….The decision was made at a special meeting.

The Board of Supervisors Wednesday agreed to a $2.5 million partially forgivable, low interest loan. The funds will come from the County’s Public Benefit Program. The loan is to help One World Beef open the closed National Beef Plant in Brawley. The Imperial Irrigation District is working with the county to assist One World. Earlier this month the IID approved a $2.5 million grant to One World Beef, from the District’s Local Entity competitive mitigation funds. The grant comes at no cost to IID ratepayers. The District has also offered the plant a reduced electric rate of 7.5 cents per kilowatt-hour for 10 years. In addition, through the IID’s Public Benefit Program, the Plant could potentially benefit from $1.3 million in efficiency or renewable energy measures. One World Beef has a goal of opening the processing plant soon. They will initially start with about 250 employees, ramping up to about 900 employees in the near future.