tru Shrimp has resumed its equity drive for its 331-million dollar indoor shrimp harbor facility in Madison. CEO and President Michael Ziebell says they were slowed down by the pandemic but are resuming in person investor socials. He says they have 70 individual investors and various companies involved and interest in the project is growing.
Balaton, Minnesota is home to the pilot project but the “Madison Bay Harbor Complex” will be the first commercial scale harbor and one of many they’re planning around the country. Ziebell says it will have a substantial economic impact in South Dakota.
The U.S. consumes one-point-six billion pounds of shrimp annually and 94-percent of it is imported, so Ziebell says there is great opportunity for growth. He says they hope to wrap up financing this year and start building in 2021.