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State Help For Northern Beef Was About $4.4M

April 16, 2014, 2:50 PM

State Help For Northern Beef Was About $4.4M

South Dakota U.S. Senate candidates talking about the idled Northern Beef Packers have been tossing out figures of taxpayer losses ranging from zero dollars to $80 million.

A breakdown from state agencies shows that the actual number is closer to $4.4 million.

Former Gov. Mike Rounds said during Saturday's Republican primary candidate forum that no taxpayer money was lost.

Yankton attorney and soldier Jason Ravnsborg said $80 million was lost.

The South Dakota governor's office says about $3.5 million in state Future Fund Grants supported the Northern Beef project. The state Department of Revenue says the plant also received nearly $845,000 in state construction-tax refunds.

Ravnsborg on Wednesday said he was referring to the difference between the total money raised and the bankruptcy sale price.

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