Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Wednesday, June 9, 2004

WASHINGTON, DC - U.S. Senator Kit Bond today announced that Laddonia will receive almost $1 million in federal funds for a new ethanol plant which Bond says will mean new jobs and help for local farmers.

"This is good news for the folks in Laddonia and the entire region who will benefit from the value-added processing. Once this plant is up and running it will jump-start economic and job growth in the region," said Bond who chairs the Senate Environment and Public Works Transportation Subcommittee which oversees the work of the federal DOC's Economic Development Administration. “Our nation requires a renewable, environmentally friendly alternative that helps create local jobs, adds value to our farmer's product, and moves us away from being an energy hostage relying on foreign-produced oil making our producers, consumers and economy subject to the whims of international cartels. Plants like the one we are trying to build in Laddonia are an important part of the solution.”

“This is a major step toward the goal of building an ethanol plant in Laddonia,” said Congressman Kenny Hulshof. “This money will provide an economic boost to the region in the form of jobs. Once the ethanol plant is built, it will have a substantial, positive impact on farmers and workers in the area. I’m pleased the that we have been able to secure these funds.”

The U.S. Department of Commerce informed Senator Bond's office today that the City of Laddonia will receive a $962,435 grant for the construction of a water system and rail spur to provide essential services to enable construction of an ethanol plant.

These funds are expected to provide 30 new jobs. Once the ethanol plant is constructed, the U.S. Department of Commerce estimates that 292 jobs will be added in the area in addition to $49 million in private investment. Recognizing the importance of the ethanol plant to Laddonia and the entire region, Bond and his staff made repeated calls to the EDA on behalf of this project.

“The whole ECAP Board is grateful for the efforts of Senator Bond. We have always known he is a conservationist at heart. He has proven himself to be farsighted in agriculture as well," said Roger Young, East Central Ag Products, Inc. (ECAP).

Kit Bond is Missouri’s senior Senator and is now in his third term after having served the state previously during two terms as Governor.