Story - The Meade County Messenger


Vol. 115, No. 11	March 12 , 2008

Industrial Development Authority inches closer to repaying county loan

Photo by Larry See Jr.
Accepting the check from the sale of 104 acres are, from left, city Councilmember Maggie Love, Councilmember Patsy Lusk, former county Judge Executive William Haynes, IDA member Jeanna Turner, Judge Executive Harry Craycroft, IDA chairman and Brandenburg Mayor David Pace, IDA member Carl Austin, former Magistrate Harold Davidson, Magistrate Herbie Chism, Magistrate Mark Hubbard, Councilmember Bruce Fackler, Magistrate Steve Wardrip, Magistrate Tony Staples and Magistrate Randall Hardesty. The group was praised by Pace for their forward-thinking abilities when the IDA originally purchased the parcel and for waiting so long to receive their funding.

By LARRY SEE JR.
Messenger Staff

March 4 started out to be a normal Tuesday. People were going about their daily routines.

But in the eyes of Brandenburg/Meade County Industrial Development Authority Chairman David Pace, March 4 was one of the biggest days the authority saw in a long time.

That’s because the IDA moved closer to repaying a 26-month loan following the sale of a 104-acre parcel to Meade County Energy, LLC.

According to a Feb. 29 press release, the firm is a locally-based Limited Liability Company owned and founded by Harry and Judy Lusk.

Meade County Energy will own the land, public relations representative Don Martin said, but they will partner with AgriFuels to finish developing the ethanol project.

Martin is also AgriFuels president.

Pace initially started the city hall press conference by expressing appreciation to the current city council, past and current Fiscal Court for their assistance in acquiring the initial Ohio River land.

“This group, along with the Industrial Authority, has been with us. They’ve been very dedicated and worked with us to see this through,” Pace said.

The $1.7 million sale will create more jobs for local residents, Martin said.

A timetable for site construction hasn’t been established yet, Martin said, but he reiterated the firm is still talking about hiring about 45 people for the operation.

As he said earlier, Martin has had conversations with supporting firms which could eventually locate facilities there, bringing the total employment figure to 120 people.

“Meade County Energy’s intent is to work in conjunction with AgriFuels in continuing development of plans to build an ethanol plant,” Martin noted.

Martin was out of town during the event, but looks forward to working with Meade County Energy.

“The good news,” he continued, “is that Meade County Energy purchased the land and that gives AgriFuels a better chance to move the project ahead.”

“The company brings to the project a strong technological background with intellectual knowledge that adds value to the overall project,” he said.

Below is a list of technology that Meade County Energy will bring into the project development, according to Martin.

• Carbon dioxide (Co2) from the fermentation of corn can either be sold to industrial and medical companies, or heated to generate a gas that replaces the need for natural gas.

• Thin stillage that remains after the fermentation contains corn oil that can be separated to be sold to the food industry.

• Ethanol made from corn is no exception.

• Wood waste from lumber construction sites, and sawmills is abundant in Kentucky. Chicken litter within the area is also plentiful.

• Combined with recycled used tires shred into two-inch chunks, can be burned in industrial boilers, with all emissions being captured, and components within the emissions can be separated to create other alternative fuels.

The project’s scope is to explore production of ethanol, not dependent on corn as the feedstock used for production, even though it will start operations using corn. A lot of research is ongoing throughout the United States in developing alternative fuel using non-food materials, such as cellulose, corn stover, waste wood and switchgrass.

“We need to reposition ourselves to do more than make ethanol,” Martin said. “This is a win win situation for Meade County Energy and AgriFuels.”

AgriFuels will start production using over 19 million bushels of corn to produce ethanol.

Pace alluded to another announcement regarding a related sale which could come this week.

“We’re still not at liberty to release the name of the company,” he said. “But they do have an option to purchase 400-plus acres of land. We have had everyone who possibly can go through the contract legal-wise and the paperwork is ready to go.”

Pace said firm officials are completing their due diligence and have hit the ground running.

“This has not been an easy road,” Pace said. “With these two companies there will be lots of future for our youth and us today. This is a major undertaking and as soon as we’re able to release the name of the company we’ll do so. We (the IDA) don’t get a lot of opportunity to slap ourselves on the back. It has been a great last six weeks.”

“We look forward to the next one and we’ll have another parcel of land once again that will continue to put Meade County on the map,” Judge Executive Harry Craycroft said.

Click Here to Go Back