Midwest Fertilizer is set to come to Mount Vernon, but not without a delay in construction.
In 2012, Midwest Fertilizer was approved for over $1.2 billion of Midwestern Disaster Relief bonds.
A short delay in the project occurred when the location of the plant was changed from the Port of Indiana-Mt. Vernon, to this area here just north of Sabic Innovative Plastics on Mackey Ferry Road. The IRS now says that those bonds are no longer tax exempt, and the fertilizer company is appealing that audit.
Posey County Commissioner Jim Alsop, who tells me that the decision from the IRS should come sometime in November.
"At that point in time, they will see how they want to go further," said Alsop. "They really believe that it will be a successful appeal, if that holds true, then they anticipate a possible groundbreaking in the second quarter of 2019."
Posey County Economic Development Executive Director Brittaney Johnson says that the addition of this plant will impact a very large region.
"Once the project is built, the economic impact for the 10 years after it starts production is $30 billion," said Johnson. "So that is not only here in Posey County, but southwest Indiana, the state of Indiana and also the 200 to 400 mile radius around Posey County where they will be delivering the fertilizer."
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