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Article: Fate of Albert Lea, Minn., Meatpacking Plant Affected by Bankruptcy Issue.
- Article from:
- Saint Paul Pioneer Press (St. Paul, MN)
- Article date:
- June 4, 2002
CopyrightCOPYRIGHT 2002 Saint Paul Pioneer Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lee Egerstrom
Jun. 4--Prospects for rebuilding the fire-damaged Albert Lea meatpacking plant, already tied up in disputes with insurance companies, have become even more complicated by Farmland Industries filing for reorganization under bankruptcy laws and by an unsolicited offer from Smithfield Foods to buy Farmland's meat operations.
The Minnesota Legislature approved a package of economic incentives late in May for Farmland to rebuild the Albert Lea plant. These include extension of a tax increment financing district, a sales tax exemption on building materials, aid to the Albert Lea school district and an extension of unemployment benefits ...
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