US soyabean processor Quality Roasting LLC was awarded a US$80,000 Michigan Business Development Program performance-based grant on 15 February to fund the construction of a new soyabean processing plant in Reese, Michigan.
World Grain reported that the joint venture, established last year by Quality Roasting Inc and DeLong Co, planned to follow a similar business model to Quality Roasting Inc, heating and pressing soyabeans to produce crude oil, and meal primarily for the dairy industry.
Quality Roasting said that it expected to use around 2.2M bushels of soyabeans, or about 2% of Michigan’s state-wide annual soyabean yield.
“Quality Roasting is excited to be part of the Michigan community,” said Erin Davis, director of business operations for Quality Roasting. “We appreciate all the support we have received from the state, county and township. We look forward to bringing more value to Michigan soybean producers.”
Jeff Mason, chief executive officer of the Michigan Economic Development Corp., said the new processing facility would help the state’s agriculture and food processing industries become more competitive.
“As a result, livestock farmers and consumers will benefit,” Mason said.
In January, the Michigan Strategic Fund also approved a bond that issued US$10M in private activity bonds for the company to acquire the land, construct the facility, and purchase and install machinery and equipment.