Tynwald has approved £1.6 million to be spent on the refurbishment of the Island's Meat Plant.
The project will cost over £2 million in total, with additional funds coming from the Agricultural Development Fund and Isle of Man Meats.
The existing plant is 18 years old, with much of the equipment in need of refurbishment or replacement. Money will also be spent on improving animal welfare standards.
Currently the red meat industry is worth over £10 million a year with direct returns of £400,000.
Prior to the unanimous vote Environment, Food and Agriculture Minister Phil Gawne warned there can be no assurances the industry will continue to grow:
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