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Aberdeen, S.D., Officials Have Been in Contact With Ridgefield Farms

Posted on: Monday, 25 July 2005, 18:00 CDT

Jul. 24--Local economic development organizations have talked to Ridgefield Farms South Dakota, a company that hopes to build a beef plant somewhere in the state. Earlier this week local officials said they had not had any contact with the company.

Jim Barringer of the Aberdeen Development Corp. told the American News on Friday that Ridgefield Farms officials have released him from a confidentiality agreement.

Barringer said local officials have had informal discussions with Ridgefield Farms representatives recently.

The confidentiality agreement prohibited him from discussing the meeting. Such agreements are not unusual, he said.

Barringer said the development corporation is interested in working with Ridgefield Farms on any future proposals.

Ridgefield had originally announced it was building a beef processing plant in Huron.

But last month, after the company decided to build the plant in two stages, many of the Huron-area investors withdrew their money.

Now the company is looking for investors and a possible new home.

On Monday Ridgefield officials had announced they were having discussions with several South Dakota economic development corporations.

That's when Barringer of the ADC said his group had not had any contact with Ridgefield Farms.

The company plans to spend about $20 million to build an 80,000-square-foot fabrication plant and a cold storage facility.

Another $7 million would be needed for computer software and hardware.

When talks first started, Ridgefield officials said when fully operational, they expected a 300-person, $11 million payroll.

Phil Friend, president and chief executive officer of Ridgefield Farms, now says the actual slaughtering plant would be a few years down the road. Until then, local processors would do that work.

In April, five members of the board of managers of Ridgefield Farms resigned, citing what they called untimely and inaccurate information.

Ridgefield Farms South Dakota was formed in April, 2004, to build, own and operate a plant with help from Ridgefield Farms Connecticut.

The company's business plan says 30 percent of the meat it processes in South Dakota will be Dakota Certified Beef.

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To see more of the American News, or to subscribe to the newspaper, go to http://www.aberdeennews.com.

Copyright (c) 2005, American News, Aberdeen, S.D.

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

Source: American News (Aberdeen, S.D.)

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