tru Shrimp holding investor meetings for Madison facility
SIOUX FALLS, S.D. (Dakota News Now) - A Minnesota-based company that holds a patent for the first fresh-water shrimp production technique is moving forward with plans to build their first major harbor in eastern South Dakota.
tru Shrimp is holding investor meetings to try to finish raising funds for their upcoming plant in Madison South Dakota.
tru Shrimp originally announced plans in 2019 to build a new facility in Madison, South Dakota. The COVID-19 pandemic has since severally delayed those plans.
The groundbreaking for the Madison location is now expected to start later this year.
“We’re moving heaven and earth to be able to break ground in Madison South Dakota this year for Madison bay harbor our first full size production facility we have been delayed COVID like the rest of the world has affected us.”
One of the big obstacles tru Shrimp still must overcome before being able to break ground in Madison is reaching their investment goals. The project is expected to be in the ballpark of $100 million.
“We are with help of investors here tonight and others we’re talking to across the nation and across the globe for that matter we have every intention of breaking ground here in 2021” said Ziebell.
While Madison is the city tru Shrimp plans to start their main production in, many executives for the company see it as just the start.
They are hoping that the Madison location will be the first of many in South Dakota and throughout the Midwest.
“It’ll be a tremendous impact for the upper Midwest where we’re going to need all the states there are so many communities here in the upper Midwest that are a nice fit for a project like a tru Shrimp harbor.”
Once fully built, the first of its kind Madison harbor is projected to bring in over 10 million dollars a year to the area.
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