Lacombe's Beretta Farms will benefit from a $1.2 million provincial tax credit after embarking on an $11-million expansion to its beef processing operation.
The Alberta government announced on Friday that Beretta Farms project to increase plant capacity to 44,688 head of cattle from 29,583 head was one of 13 projects receiving conditional approval under the Agri-Processing Investment Tax Credit.
As part of its project, Beretta Farms expanded its Lacombe facility by 10,000 square feet.
"Our recent plant expansion project at our facility in Lacombe has allowed us to increase our processing capacities and add more job opportunities in the central Alberta area," said plant manager Thomas Beretta.
"With the support and recognition from the Government of Alberta's tax credit program, we feel we are in a better position to continue our success and have the confidence to grown our meat brands into the future."
Beretta said in an Instagram video posted by Alberta Agriculture and Irrigation Minister RJ Sigurdson that area producers are noticing the growing demand for Alberta beef.
"In our export markets, (Canadian beef) is viewed as a very premium product," he said. This country also offers a stable economy and is a "very well-liked country.
"And with the Canadian, Alberta beef in particular, the sky's the limit."
Beretta Farms hired 11 new employees after the expansion and plans to hire 10 more. The Lacombe facility is a federally registered, European Union-approved harvesting and meat processing facility. It slaughters, processes, packages and distributes Canadian and U.S. beef and bison meat products to 87 countries.
Beretta's tax credit is valued at just under $1.23 million. Since 2023, 16 applicants for the tax credit have been received representing about $1.6 billion in new investment. Companies must submit progress reports and then apply for the 12 per cent tax credit when their project is complete.
To be eligible, food manufacturers must invest at least $10 million to build or expand a value-added agri-processing facility in Alberta that adds value to commodities, such as grains or meat, or turn agricultural byproducts into new consumer or industrial goods.
Lacombe-Ponoka MLA Jennifer Johnson said the Beretta Farms expansion "not only supports our local job creation and economic growth but it also strengthens Alberta's global reputation for producing high-quality meat products."
Sigurdson said the tax credit builds on the existing competitive advantages of the province's agri-food companies and the primary producers that supply them.
