(Terril)– The Farmer’s Co-Op Elevator in Terril is looking to expand it’s value-added agricultural operation to include bio-diesel.
Officials are in the process of lining up finances for the proposed expansion. Yesterday, the Dickinson county board of supervisors approved a 15-thousand dollar loan at three percent interest over five years.
Mike Steinman of the Iowa Great Lakes Industrial Development Board made the request for the loan on behalf of the elevator. He told KUOO news the biodiesel operation will fit in nicely with a soybean crushing facility that’s been operating successfully several years now at the Terril elevator.
Steinman says the start-up cost for the biodiesel operation has been put at roughly 460-thousand dollars. The elevator is also seeking assistance from the city and state.
Steinman says the biodiesel operation is to be located adjacent to the elevator on the east side of Terril. He says two or three new jobs will be created upon start-up with the possibility of more being added later. Steinman says the plant will produce about a million gallons of biodiesel a year.
