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Business Briefs - Sept. 2, 2009
Ethanol research site gets $360,000 federal grant
EDWARDSVILLE, Ill. (AP) — An ethanol research center at Southern Illinois University in Edwardsville is getting $360,000 in federal help.

The National Corn-to-Ethanol Research Center got the grant from the USDA through this year’s omnibus bill. The funds will help cover workforce training opportunities in the biofuel industry.

The six-year-old research center was built in part with $14 million in federal money. Public and private groups use the center to test ethanol technology.

Rural broadband company to expand Rushville ops

RUSHVILLE, Ind. — Rural wireless broadband provider Omnicity Corp. announced it will expand its operations, creating approximately 100 new jobs by 2012. The Rushville-based company, which provides broadband access to more than 30 rural Indiana counties, will invest $2.5 million toward wireless infrastructure and the construction of a new corporate office to house its call center, collections and distribution operations in the North Rushville Industrial Park.

Omnicity, which employs 38 associates across its four Indiana facilities, plans to begin hiring customer service specialists, managers and field service personnel in October to meet growing demand. The Indiana Economic Development Corp. offered Omnicity up to $25,000 in training grants and will provide Rushville officials with a $110,000 grant to assist in off-site infrastructure improvements needed for the project. The city of Rushville will provide additional property tax abatement at the request of the Rush County Economic Development Corp.

First Farmers announces agreement to acquire CB Bank Shares
CONVERSE, Ind. — First Farmers Financial Corp. of Converse and CB Bank Shares, Inc. of Russiaville, Ind., announced they have signed a definitive merger agreement under which CB Bank Shares will merge into First Farmers. CB Bank Shares is the holding company for Central Bank, which will be merged into First Farmers Bank & Trust, First Farmers wholly-owned subsidiary bank.

The transaction will combine two of the oldest banking institutions in central Indiana. The acquisition will give First Farmers Bank & Trust 20 branches in Indiana, more than $730 million in assets and gross capital of over $75 million. It also makes the organization the largest privately held deposit holder in Howard County, with $165 million at 5 branch locations. Financial terms of the transaction were not announced.

KSPB announces state soybean yield and quality contest
PRINCETON, Ky. — The Kentucky Soybean Promotion Board (KSPB) and the Kentucky Soybean Assoc. (KSA) announce the 2009 Kentucky Soybean Quality and Yield Contest. The contest has been outlined to encourage producers to strive for not only high levels of yield but also high quality beans. Both contests promote the use of good practices to increase profitability for the betterment of Kentucky agriculture.

Any producer (owner-operator, tenant or tenant-landlord) who produces 10 acres or more of soybean in the Commonwealth is eligible to enter in either the Single-Crop or Double-Crop yield divisions. Anyone entering the yield contest is also eligible to enter the quality portion of the contest.

The state champion in highest yield per acre will win a trip for producer and spouse with up to $1,500 toward expenses for travel, lodging and registration to the Commodity Classic, a trophy and a $500 cash award. Other prizes are also available. The contest is also sponsored by the University of Kentucky Cooperative Extension Service and agribusinesses. For a copy of the Rules and Regulations contact a county agriculture extension agent or the KSPB at 800-232-6769.
9/2/2009