|MONTPELIER, Ind. — Central States Enterprises Inc. announced May 2 plans to build a new 100 million-gallon corn ethanol facility in Montpelier, Ind.
“The addition of another ethanol plant in Indiana is a big win for Hoosiers,” said Governor Mitch Daniels. “This plant will add jobs, stimulate the purchase of raw materials from Hoosier farmers, and create a renewable fuel source that is less harmful to the environment.”
The facility will consume approximately 41 million bushels of corn annually, producing 100 to 110 million gallons of ethanol and 376,000 tons of distillers dried grains, a high quality feed ingredient fed to livestock and poultry.
The $150 million project will provide 200 jobs during construction and will create about 40 new permanent jobs when in operation. In addition to being among the largest facilities of its type in the U.S., the plant will employ the newest, state-of-the-art technology available to the industry.
The Indiana Economic Development Corporation (IEDC), Indiana State Department of Agriculture (ISDA) and Blackford County worked together to provide an incentive package that helped secure the ethanol plant. Economic development incentives offered by the IEDC include up to $40,000 in training grants, $100,000 in infrastructure assistance to the local community and up to $1.8 million in tax credits based on anticipated employment and capital investment levels.
Investment partners include: Central States Enterprises; GROWMARK, Inc., a diversified farmer-owned cooperative based in Bloomington, Ill.; and other equity participants. Central States Enterprises, Inc. is a privately owned agricultural company.
Established in Fort Wayne, Ind. in 1969, Central States Enterprises provides grain handling and grain merchandising services, and produces animal feed products.
This farm news was published in the May 10, 2006 issue of Farm World.