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Ethanol Plant To Mean Millions To Local Economy

By Mr Ethanol | July 31, 2008

South Hill Enterprise:
Osage Bio Energy’s proposed ethanol plant in Chase City is predicted to bring more than a hundred direct, indirect and induced jobs and millions of dollars into the local economy, according to the economic impact study completed by Duff & Phelps, an international provider of independent financial advisory and investment banking services.

The Duff & Phelps study provides estimates of the expected economic and fiscal impacts at the state and local level, resulting from the new plant.

Osage is preparing to construct a plant to operate under the name Bluestone Bio Energy on what is known as the Butler Farm in Chase City. The plant is proposed to be a barley feedstock ethanol manufacturing plant and Osage officials say that the majority of the crop will be Virginia grown.

Osage has been granted the Mecklenburg County permits needed to build the Chase City plant, but officials said this month that construction of the plant has been pushed back to 2009 after announcing that the company will first build a plant in Hopewell and one in South Carolina.

John Warren, Osage’s Director of Government Relations and Project Development, said last week that there are a number of assumptions that have gone into the economic impact study and some are rather dated. The study provides the numbers based on a timeline and estimates are based on a certain number of gallons produced.

Read full article.