NPP: Evansville biodiesel plant will not be built
EVANSVILLE—The board of directors planning to build a biodiesel plant in Evansville has voted to end the project, according to a letter from chairman John Sheehy.
North Prairie Productions halted construction in November on the biodiesel project on the city’s east side because of “rapidly rising commodity prices and the decision by a key lender to withdraw from its loan commitment,” Sheehy wrote.
Commodity price increases continue “to outstrip the ability to produce and market biodiesel fuel at a profit,” he wrote.
The decision to end the project is in the best long-term interest of the investors, agricultural producers, suppliers and communities North Prairie intended to serve, he wrote.
According to Sheehy:
North Prairie anticipates returning about 50 percent of investors’ equity in coming months. Investors will receive 35 percent of their funds in the next few weeks, while the remaining money will be disbursed following the completion of liquidation efforts.
While the announcement is another blow to the area economy, the news will not affect plans to build a soybean crushing plant next to the site of the biodiesel plant.
“It should have no impact,” Landmark Services Cooperative board president John Blaska said. Landmark is working on final details of its business plan, which should be unveiled to its board by the month’s end. Construction on the plant, which would be the state’s first crush facility, could start next June, Blaska said.
Check back on GazetteXtra.com or read Wednesday’s Janesville Gazette for more details.
Jun 10, 2008 at 9:37 p.m.
Suggest removal
Not to mention the sewer/water treatment plant that needs millions in repair/upgrading. The fire dept that they are building in a flood zone.
If you asked the mayor she would fix the lake and tell us all the sewer issues would have to wait.Now with G.M going out , get out while you can because we will never get for our homes what would have five years ago.
Jun 10, 2008 at 9:33 p.m.
Suggest removal
evansville does not have crap. The schools are not near good enough for what you pay to live there. Taxes are very high, the city acts like it has no clue on how to attract business. Tif district 5 is going fail, which will be another burden on the citizens. They want to fix that damn lake, which they have no money to do. They put in that stupid rumble strip in the down town at cost to tax payers. They threw millions at the eager building, and know can't fill it. They have had business move in, but only to leave empty spots in the down town area where these business's moved from. We have a mayor with big wants and no money or ideas of how to bring revenue to Evansville. So the fact we have lost this as well is just one more blow. Now that poor hotel, I don't think the timing could be worse. Who is going to stay there?
If the planned by pass ever goes through Evansville will be nothing more than a ghost town, with sky high taxes. Even the ghosts will leave they will not be able to afford it.
Jun 10, 2008 at 8:25 p.m.
Suggest removal
I grew up in Evansville and now live in Janesville, I couldn't afford to live in Evansville everything there is more expensive. I could rent a dump for the same amount of money as I could a nice apartment in Janesville (oh yeah, I did that so I do know what I'm talking about). Not to mention that to get anything you have to either drive to Stoughton, Janesville or Madison. Schools are better I will give Evansville that, but Evansville is driven by the Madison market. Janesville doesn't have the luxury of Madison big bucks. And I could buy a lot more house for the price in Janesville than I could in Evansville.
And if you were to check around a lot of Evansville and Evansville School District residents work(ed) at GM, Lear, etc. so the plant closing will affect ROCK COUNTY (yes that includes Evansville) not just Janesville.
Jun 10, 2008 at 6:07 p.m.
Suggest removal
China needs soy bean oil, not biodiesel.
Jun 10, 2008 at 5:24 p.m.
Suggest removal
Maybe she did move and it just occured to her that the internet goes beyond the Evansville-Janesville area.
Jun 10, 2008 at 4:40 p.m.
Suggest removal
evansvillehousewife~ I thought you moved?
Jun 10, 2008 at 3:42 p.m.
Suggest removal
Darn it - I was hoping to get a job doing security, smoking cigarettes and eating salted soybeans. Now what will I do?
Jun 10, 2008 at 3:19 p.m.
Suggest removal
evansville housewife , chill. I think this person was trying to be funny. If there is anyone who should be offended it is I as we have a child who is bipolar.
Jun 10, 2008 at 3:15 p.m.
Suggest removal
reader1, at first I thought what a xxxx, comment to make,then I thought you are funny. So right, and funny. I live in Evansville and we do have some screw balls.
Jun 10, 2008 at 3:14 p.m.
Suggest removal
First off, reader1, the Biodiesel plant never HIRED anyone in Evansville. There is a loss of PROSPECTIVE jobs, but not former, real paying jobs. It's not like GM where people have been there for decades and suddenly the job is gone. Evansville never depended on the tax base like Janesville did.
COme to think of it, Doyle gave a grant and a fat groundbreaking ceremony to Prarieland. Will those costs get recovered?
Second, Evansville has a crime index of 104.8- Janesville has a crime index of 316 (you have three times the crime of E-ville)
The average home price in Janesville of a home is 123,600 (2007) in Evansville, 137,600.
Go ahead and make your little jokes about Evansville being a little hick town. We've got progressive schools, a good economy,a tight community, (we have more college degrees per capita than J-Ville too) higher home values, lower crime, etc.
Not to mention better reading comprehension and a lack of ad hominem attacks.
Jun 10, 2008 at 2:36 p.m.
Suggest removal
Can we change the sign on the outside of town that says "soybean capital of Wisconsin" to say "bi-polar capital of Wisconsin" now? Maybe they can use the space for a medical center to study the people of Evansville.
Jun 10, 2008 at 2:04 p.m.
Suggest removal
Well, this would have been neat, but we've pretty much known since November it was unlikely to happen. We will get the soybean plant.
Jun 10, 2008 at 12:44 p.m.
Suggest removal
How many more hits can Rock County take?
Jun 10, 2008 at 12:22 p.m.
Suggest removal
If you grow hemp, but can't get it processed into fuel, you can always smoke enough of it until you THINK you've travelled. :)
.
They should legalize hemp for medical purposes - it makes a great rope, and if we hang enough lousy politicians, we'd ALL feel much better.
Jun 10, 2008 at 12:21 p.m.
Suggest removal
thekid3477,
Well Said!
Jun 10, 2008 at 11:48 a.m.
Suggest removal
in the early 1900's approximately 25% of our fuel used was ethanol. grown locally. made locally. used locally. then alcohol prohibition(oil lobbyists) came along and ethanol was alcohol, so ethanol died. the cost problem is we're paying to much just to get the bio-mass to the plant, and then back to the supplier. not to mention the cost of the bio-mass itself. each region should use local bio-mass. iowa can use corn. idaho can use potatoes. hemp grows in any climate WITHOUT A SINGLE FERTILIZER, but dont get me started;). www.hemp4fuel.com. it IS possible for ethanol to help with our dependance on foreign oil, just not the path we've chosen so far...
Jun 10, 2008 at 11:35 a.m.
Suggest removal
Is this really a surprise
Before you post a comment, consider this:
Note: GazetteXtra.com does not condone or review every comment. Read more in our User Policy AgreementPost Comment
Commenting requires registration.