NEW ETHANOL PLANT TO BOOST ECONOMIC HEALTH IN REGION

MALDEN, Mo. -- A new value-added agriculture-based company has announced plans to enter the growing ethanol market and provide significant economic opportunities for the southeast Missouri community of Malden.

The Missouri Department of Economic Development (DED) approved a $298,240 grant through the Community Development Block Grant (CDBG) Program requested by the city of Malden. These funds will be used for street and drainage improvements and to construct a rail spur in Malden's industrial park.

SEMO Ethanol Inc. has announced plans to make a multi-million dollar investment and create 30 new full-time jobs within two years. The start-up company will produce fuel-grade ethanol for the automotive industry, and market its by-products as distiller's dried grain for animal feed and carbon dioxide for the soft drink industry.

"With fuel prices remaining high, the market for ethanol should grow significantly," said DED Director Joseph L. Driskill. "As a result, we expect that SEMO Ethanol will have a strong economic impact on southeast Missouri through job creation and increases in the region's tax base. Another ethanol producer in Missouri will not only provide a viable alternative fuel source for Missourians, but will also add value to the agricultural industry as demand and possibly prices rise for corn."