By, Aaron Adelson
aadelson@kcautv.com
Twitter: @aadelsonkcau
The Federal government gives a $105 million loan guarantee to an ethanol company in Emmetsburg, Iowa.
With the government's backing, POET Biomass hopes to break ground on a new refinery this year.
"This is a huge step forward. It's been a long time in the making with the government's support we're going to hopefully build the first commercial scale ethanol cellulosic facility in the country ever, here in Emmetsburg, Iowa," said Adam Wirt, from POET Biomass.
POET's Developing an entirely new way to produce ethanol.
These are bails of corn residue, which would normally just lie around a field, and go to waste, but POET Project Liberty will turn them into ethanol. They'll use the corn cob and the corn leaves. Normally, they would just use the grain.
The U.S. Energy Secretary predicts the cellulosic plant could provide area farmers with an additional $14 million in revenue, And one farm equipment business in town is already preparing for an increase in sales.
"If necessary, we'll have to expand and add on. It's just great economic development for this rural economy," said Eric Woodford, owner of Woodford Equipment.
And it will be a big boost for the area with POET planning to employ 200 construction workers to build the plant, and then create 40 permanent positions.
"When you talk about an additional 200 jobs coming for a construction period, an additional 40 jobs, that's a big part of the population as far as people eating in restaurants, people staying in motels, and things of this nature. So it's great to have construction like that going on in our community," said Steve Heldt, Emmetsburg Community Development.
People in Emmetsburg say 200 employees spending money in town would make a serious impact on the economy.
