Northern Beef Packers' bills mount as facility awaits opening
Northern Beef Packers' Aberdeen, S.D., facility has yet to open, but the company's bills from its contractors continue to rise. Brown County records show that contractors have filed liens for more than $1.3 million against the company since the start of the year, reports the Associated Press. About $1.2 million of which has not been paid. Documents show the plant owes more than $10 million from previous years.
David Palmer, Northern Beef Packers CEO and president, said, the plant does not have enough money to pay its bills because it has not sold all of its Tax Incremental Finance (TIF) bonds, and hasn’t secured financing from other sources.