Proposed Ethanol Plant to Receive $250,000 Grant

December 1, 2015 08:00 PM
 
Proposed Ethanol Plant to Receive $250,000 Grant

A $140 million ethanol plant planned just outside of Onida is getting a $250,000 grant from the federal government.

The Capital Journal reports that the money through the federal Agriculture Department's Rural Development agency is part of $34 million being given to more than 250 businesses nationwide.

The plant is to produce 70 million gallons of ethanol fuel annually from about 25 million bushels of corn grown in the region. It will employ about 40 people.

Ringneck Energy hopes to start construction next spring and have the plant operating in a year. The company is holding dozens of investor meetings around the region to raise $74 million in equity to get the plant off the ground. The next meeting is Wednesday evening in Pierre.

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