MASON CITY — Average annual wages at the new pork processing plant in the works for Mason City will be in the $40,000 to $42,000 range, according to Chad Schreck, head of the North Iowa Corridor Economic Development Corp.

The figure includes employees at all levels.

Officials have not identified the company and say final details are still being worked out. An announcement from the company with full details is expected later this month.

It is an out-of-state company that is looking to build its first processing plant, said Schreck.

The company expects to hire 2,000 workers in two phases, with about 1,000 hires in each phase.

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Schreck said the first phase will bring an annual payroll of $44 million, which will increase to $80 million total with the second phase.

He said the company’s salary estimates are based on the current market. “Their goal is to be a preferred employer in the community that provides strong wages and benefits,” said Schreck.

He said the new plant, estimated to be 650,000 square feet — almost 15 acres — on the south side of the city, will take two years to build and will involve hundreds of construction jobs.

Once it is built, the first 900 to 1,000 employees will go to work with another 1,000 to be added within two years after that, said Schreck.

Estimated cost of the project is $245 million. The company intends to construct a state-of-the-art building that will address environmental concerns that residents might have, he said.

But Schreck emphasized that while everything is looking good, it is not a done deal yet.

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