Valero Renewable Fuels Company To Expand Its Mount Vernon, Indiana, Ethanol Production Facility
05/13/2014
The company is a subsidiary of San Antonio, Texas-based Valero Energy Corporation, an international manufacturer and marketer of transportation fuels, power and other petrochemical products. Valero Renewables plans to purchase, renovate and equip the former Aventine Renewable Energy facility at the Port of Indiana-Mount Vernon, which is expected to be operational later this year.
“We’re looking forward to hiring employees, restarting the plant and producing ethanol,” said Martin Parrish, Vice President of Alternative Energy and Development at Valero. “We intend to invest in the Mount Vernon plant to make it competitive with other top-tier ethanol facilities, and we will use the technical expertise we have gained at our other plants to look at ways to improve Mount Vernon’s reliability, production rate and product yields.”
Valero, which currently employs 10,000 people nationally, including approximately 65 in Indiana, is currently hiring for engineering, operations, maintenance and administrative positions at Mount Vernon. Founded in 1980, Valero currently operates 10 ethanol plants across the United States, including one in Linden, Indiana. The company uses the entire kernel of corn in production, producing ethanol and distillers grains, which are used as livestock feed. Valero was the first traditional refiner to enter ethanol production and today has the capacity to produce 1.3 billion gallons of ethanol annually.
“Indiana’s growing economy is energized when companies like Valero decide to make the move to Indiana,” said Governor Mike Pence. “By picking Indiana for its newest facility, Valero is helping power job creation and spur economic opportunities for Hoosiers. With a stable business climate rooted in low taxes, limited regulation and balanced budgets, Indiana is a state that works for business.”
The Indiana Economic Development Corporation offered Valero Renewable Fuels Company, LLC up to $600,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Posey County approved additional incentives at the request of the Posey County Economic Development Partnership.
“I am immensely excited Valero has chosen to make a significant investment in the renovation of the closed ethanol plant in the Port of Mount Vernon,” said Bob Gentil, President of the Posey County Council. “To have a company with the footprint Valero has in the ethanol industry choose to make our closed ethanol facility one of their projects is huge for this community. Posey County welcomes the opportunity to partner with Valero in creating short, mid and long-term economic opportunities for Posey County.”
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