JAMESTOWN, N.D. (NewsDakota.com) – It was announced Monday that ADM would be building North Dakota’s first-ever dedicated soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including producers of renewable diesel.

The approximately $350 million crush and refining complex will feature state-of-the-art automation technology and have the capacity to process 150,000 bushels of soybeans per day. It’s expected to be complete prior to the 2023 harvest.

The Jamestown/Stutsman Development Corporation (JSDC) formed a proposal Monday to provide incentives following the firm commitment of ADM, formally referred to as Company X.

JSDC CEO Connie Ova says the incentive proposal for ADM was customary and they’ve provided those for past projects as well.

The incentives package includes $2.514 million on an 80/20 split between Stutsman County and the City of Jamestown, pending each entity’s approval. That covers PACE interest Buy-down, new jobs training funds, JSDC jobs incentive, and up to $1 million payable upon confirmation of and final signatures to construct the processing facility.

Other incentives include up to $500,000 upon completion of the plant, which must be no later than 24 months following the execution date of Letter of Intent with the Spiritwood Energy Park Association.

All loans and grants will be subject to “claw backs” which allows the JSDC to recapture any and all incentives if ADM does not fulfill the incentives.

Click here for more information on the ADM project announcement.