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JBS workers at Brooks offered affordable housing opportunity, down payment loan

Leading Southern Alberta Beef Producer Helps Employees Get Ahead Of The Housing Market By Offering Loans To Help With Down Payments While Boosting Affordable Housing Initiatives .

JBS Foods Canada, the company that operates a meat processing plant in Brooks, Alberta, announced an investment of $1.3 million to help the community’s housing market and its own employees.

The Homebuyers Dream Fund offers a loan of $10,000 per eligible team member that can be used for a down payment for a home for their family.

The money does not need to be repaid within the first 12 months and does not earn interest.

Instead, JBS said in a statement that the money is being refunded through payroll deduction over a four-year period.

“The Dream Fund addresses a critical need in our workforce by breaking down barriers to affordable home ownership in our community,” said David Colwell, president of JBS Foods Canada in a statement. “We are proud to offer this opportunity to many team members who might otherwise lack the resources to take that first step towards home ownership.”

The investment is a year-long pilot program under JBS’s Hometown Strong initiative, a $2 million fund aimed at creating more affordable housing opportunities in Brooks.

John Petrie, Mayor of Brooks, says the company is doing its part to help boost the local economy.

“I see this as a big economic boost for the area, which would be great for developers and the business community from the trades,” Petrie said.

“I appreciate what JBS Foods Canada has shown in its commitment to its employees, the town of Brooks and the surrounding region.”

To qualify for the loans, employees must:

  • Commit to a minimum of two years of service;
  • Be in good standing with the company; and
  • Have an annual salary equal to or less than $120,000.

All homes purchased through the Dream Fund must be within 75 kilometers of the Brooks Meat Processing Plant.

More than 3,000 people work at the facility and the company supports more than 500 Alberta beef producers.