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JSDC approves soybean plant incentive

The Jamestown/Stutsman Development Corp. approved economic incentives for the planned Minnesota Soybean Processors crushing plant Monday. The $282,000 in funding would be repaid from the North Dakota income tax withholding on the new employees of...

   

The Jamestown/Stutsman Development Corp. approved economic incentives for the planned Minnesota Soybean Processors crushing plant Monday.

The $282,000 in funding would be repaid from the North Dakota income tax withholding on the new employees of the plant when it begins operations in 2018 and 2019, according to Connie Ova, CEO of the JSDC.

Ova said Minnesota Soybean Processors would likely hire a project manager and assistant to work in Jamestown in May, although the bulk of the new jobs at the plant would be created in 2018 and 2019.

The funding approved by the JSDC would not be made available to Minnesota Soybean Processors until the new positions are filled. The move Monday, if approved by the Jamestown City Council and Stutsman County Commission, would earmark the funds for future distribution.

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Minnesota Soybean Processors announced the planned crushing plant in January with construction scheduled to start this summer.

The plant intends to purchase soybeans from local farmers after the 2018 harvest and begin crushing for soybean oil and meal in 2019.

The project has a planned construction cost of $240 million and would process 42 million bushels of soybeans per year. The plant is expected to employ about 55 people.

Plans call for locating the plant south of the Spiritwood Energy Park Association, and it will connect to the SEPA rail loop with additional track.

Ova said the North Dakota Legislature is reviewing the New Jobs Training Funds and could discontinue the program, halting future enrollment in the incentive.

In other business, the JSDC approved $45,000 to continue the services of Train ND to the area. The biennial budget for Train ND has been cut by the Legislature from $3 million to $1.6 million, Ova said. The program sought local support to help cover its administrative costs.

Train ND provides classes for businesses utilizing the staff of the North Dakota State College of Science.

Under the agreement, Train ND would have a staff person in Jamestown one day per week and operate two open enrollment training sessions most months in Jamestown, Ova said.

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knorman@jamestownsun.com

(701) 952-8452

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