Earlier this month in Ohio, POET Biorefining – Marion broke ground to expand its production capacity from 70 million gallons per year to 150 million gallons per year. The project will also increase production of dried distillers grains from the current 178,000 tons annually to 360,000 tons. The project is scheduled for completion in the third quarter of 2018.
The expansion is the largest project in the Marion, OH area since the construction of the original POET Biorefining – Marion in 2008. The $120 million project will have a profound impact on the local economy, including 225 temporary construction jobs and 18-21 new permanent jobs at the site. It also adds new corn demand at a time farmers sorely need support.
“This expansion will add 26 million bushels of new corn demand annually for the local area and create new jobs and economic activity for rural Ohio,” said POET CEO Jeff Broin. “In recent years, I know farmers are struggling with low commodity prices, which is creating lower farm incomes and decreasing land values. Biofuels have been the only real growth sector for ag commodities in the past decade. We will need to see biofuels increase as a percentage of the US and world fuel supply, and as a percentage of our gas tanks to stabilize worldwide ag prices and land values. We are excited that the Marion plant expansion can play a small role in this important arena.”
POET is a leader in biorefining through its efficient, vertically integrated approach to production. The 30-year-old company has a network of 27 production facilities. POET, through its joint venture with DSM, also operates a commercial-scale cellulosic ethanol plant in Emmetsburg, IA.
Ohio leaders, farmers and area residents joined POET in the groundbreaking celebration, and the day was officially named “POET Day” by the Marion City Council.
“POET’s expansion will create even more market opportunities for Ohio’s producers and help the state’s number one industry, food and agriculture, continue to grow,” said Ohio Department of Agriculture Director David T. Daniels. “Agribusinesses recognize Ohio’s growth environment and ultimately all Ohioans – consumers and farmers – benefit from this growth.”
“POET Marion is the center of the manufacturing universe today, Tuesday, August 15, 2017,” said Gus Comstock, CEO of the Greater Marion Community Area New Development Organization. “The first shovel turned is another indication of Marion’s reemergence as a manufacturing powerhouse. Not to be confused with yesteryear’s manufacturing, Marion is now a center of high tech manufacturing and a dedicated and skilled workforce.”
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