Planned Fort Dodge Ethanol Plant Gets Helping Hand From State

A handful of corn is shown before it is processed at the Tall Corn Ethanol plant, May 24, 2006, in a Coon Rapids, Iowa. (AP Photo/Charlie Neibergall, File)

Tools

By Richard Pratt

Story Created: Apr 25, 2011 at 8:14 AM CDT

Story Updated: Apr 25, 2011 at 8:14 AM CDT

FORT DODGE, Iowa (AP) — The planned Cargill Inc. corn milling operation west of Fort Dodge has been awarded a $2 million loan and tax credits worth up to $603,000 from the Iowa Economic Development Board.

The Department of Economic Development says that half of the loan will be forgiven and the other half will be repaid over five years with no interest.

The tax credits will come in the form of a refund of sales, service and use taxes paid during construction.

Cargill, which is based in Minneapolis, bought the unfinished Tate & Lyle corn ethanol plant last month for $57 million according to The Messenger of Fort Dodge.

The plant is expected to employ 104 people and begin operating in 18 to 24 months.

Cargill spokeswoman Nicole Reichert says the plant will make 115 million gallons of ethanol annually.

Conversation Guidelines

Be Kind

Don't use abusive, offensive, threatening, racist, vulgar or sexually-oriented language.
Don't attack someone personally. Keep it civil and be responsible.

Share Knowledge

Be truthful. Share what you know and what you are passionate about.
What more do you want to learn? Keep it simple.

Stay focused

Promote lively and healthy debate. Stay on topic. Ask questions and give feedback on the story's topic.

Report Trouble

Help us maintain a quality comment section by reporting comments that are offensive. If you see a comment that is offensive, or you feel violates our guidelines, simply click on the "x" to the far right of the comment to report it.


read the full guidelines here »

Commenting will be disabled on stories dealing with the following subject matter: Crime, sexual abuse, property fires, automobile accidents, Amber Alerts, Operation Quickfinds and suicides.

What's On KCRG