Mt. Vernon, Ind. (PRWEB) October 17, 2013
Posey County’s offer to Midwest Fertilizer Corporation was formally signed in Mt. Vernon, Indiana on October 10 between local elected officials and company representatives while fans of the project eagerly witnessed the event. The company will invest $2.1 billion, employ 200 high-wage permanent workers along with creating 2,500 construction jobs over a three-year period, and it is the largest economic development project announced for 2013 in the State of Indiana. Midwest's CEO Mike Chorlton says, “The county (Posey) is a perfect fit for the project and won out over numerous U.S. sites and two Canadian provinces.”
Midwest Fertilizer is a Delaware domiciled corporation with many well-known Japanese, European and U.S. companies as strategic partners owning 45 percent of the firm. The managing partner in the new company is the Fatima Group, which is one of the largest and most well-respected industrial concerns in Pakistan. The new plant will manufacture nitrogen-based fertilizers solely for the U.S. market and expects to have all permits ready to break ground by March of 2014.
"The success of this project has been a team effort by many, many people in our region,” said John Taylor, Executive Director for the Posey County Economic Development Partnership. “It will be a game changing investment and employer to Posey County and the region."
Expected to use 2,500 local building trade workers during a three-year construction timeline, Midwest Fertilizer will employ 200 full-time workers when complete at wages substantially higher than the county wage average. Farmers located in Indiana and the Midwest who rely upon nitrogen fertilizer will benefit as well. According to the United States Department of Agriculture (USDA), the U.S. is the largest importer of nitrogen fertilizer; and, once Midwest Fertilizer Corporation’s facility becomes a reality, those dollars will remain in the U.S.
“A project such as Midwest Fertilizer is the type that happens but once in every ten or twenty years,” said Greg Wathen, President & CEO, Economic Development Coalition of Southwest Indiana. “The opportunities that will arise from it will benefit generations to come.”
Midwest Fertilizer Corporation plans to manufacture nitrogen-based fertilizer in Posey County, Indiana near the sixth busiest inland water port in the nation, Ports of Indiana – Mt. Vernon.