June 17, 2004
EDA Grants ECAP $962,435 For Ethanol Project
East Central Ag Products, Inc., is very excited to announce the receipt of $962,435.00 as an EDA grant for infrastructure. The infrastructure improvements will aid both ECAP and the City of Laddonia by allowing for new water wells and an improved railroad spur. Senator Christopher ďKitĒ Bond stated, ďThis is good news for the folks in Laddonia and the entire region who will benefit from the value-added processing. Once this plant is up and running it will jump-start economic and job growth in the region.Ē The total cost of both improvements will be $1,604,059. This grant will provide an economic impact locally by adding 30 new jobs and 292 new jobs to the area, positively affecting the rest of the agricultural producers in the region.
ďThis is a major step toward the goal of building an ethanol plant in Laddonia,Ē said Congressman Kenny Hulshof. ďThis money will provide an economic boost to the region in the form of jobs. Once the ethanol plant is built, it will have a substantial, positive impact on farmers and workers in the area.Ē
ECAP wants to thank our Congressional Team in Washington, D.C., for all of their efforts in this matter. Without the help and support of Senator Bond, Senator Talent, and Representative Hulshof, this grant would never have been realized. The hard work and faith given our project by The Missouri Corn Growers Association, Mark Twain Regional Council of Governments, and the EDA staff also deserve credit for this grant. To all those who contributed, we give our heartfelt thanks.
The EDA grant puts us nearer to our goal of building an ethanol plant in Laddonia, MO. It will help ECAP complete our fund-raising goals earlier than scheduled. Without the grant, ECAP would have had to raise another $1,000,000.00 before being able to break ground. This EDA grant is the final step before completing our negotiations with our lenders.
Now that we have the EDA grant, we look forward to completing our commitment to our 559 cooperative members and lenders and plan to break ground for the ethanol plant in 90 to 120 days.
For more information, contact Roger Young at the ECAP office in Laddonia, MO (573) 373-2232.
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