MOUNT VERNON, Ind. (AP) — A grain and transportation company says it will expand its operations in southwest Indiana and invest over $31 million to increase soybean processing abilities.
Consolidated Grain and Barge Co., based in Louisiana, announced expansion plans Tuesday in a news release circulated by Indiana officials.
CGB’s soybean processing plant was constructed in Mount Vernon in 1997 and ships most of its facility’s volume via barge.
Steve O’Nan is senior vice president of CGB. He says the investment in southwest Indiana will let the company remain competitive. The expansion will create five new jobs.
The Indiana Economic Development Corporation says the company was offered up to $45,000 in conditional tax credits based on the company’s plans.