Indiana to get $2.8B fertilizer plant
Project could create 2,500 construction jobs.
The long-discussed $2.8 billion Midwest Fertilizer Co. project in Posey County is moving forward, aided by state incentives that the administration of former Indiana Gov. Mike Pence opposed.
Construction of the manufacturing facility is to begin in 2018, and it is expected to support more than 2,500 jobs. The company plans to create up to 185 new, high-wage jobs by the end of 2021, according to the Indiana Economic Development Corp.
The IEDC offered Midwest Fertilizer up to $2.9 million in conditional tax credits and up to $400,000 in training grants based on the company’s job creation plans, as well as up to $300,000 in conditional incentives from the Hoosier Business Investment (HBI) tax credit based on the company’s planned investment.
Those incentives are performance based, meaning the company must create jobs and invest in Indiana in order to be eligible to receive incentives, the IEDC said.
The administration of Gov. Eric Holcomb, which took office in January, re-evaluated the project "and said this fits within the overall direction of the state, and said we are going to offer a level of assistance," said Greg Wathen, director of the Economic Development Coalition of Southwest Indiana.
Wathen's group and Posey County officials have long backed the project, and now that the state administration is on board, Wathen said it is better positioned to move forward.
"It was a 180-degree turn (on the state's part)," Wathen said.
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Source: AGC.org
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