LANSING, MI (WHTC) – A subsidiary of Zeeland Farm Services is in line for help from Lansing in developing a new soybean processing site in central Michigan.
The Michigan Strategic Fund on Monday approved 12.2 million dollars worth of local and school tax captures for ZFS Ithaca to help build a 129 million-dollar plant and storage facility at the site of a failed corn ethanol processing plant. When completed, the new facility will boost the amount of Michigan-grown soybeans processed in the state from 10 percent to as much as 60 percent, and should employ 74 staffers at an average wage of over 20 dollars an hour.
This approval from the Strategic Fund, which takes effect in 2029, comes after ZFS secured 14.8 million dollars in tax breaks over 25 years last November from the MSF in establishing a “agricultural processing renaissance zone” for the 435-acre site, which was acquired by ZFS three years ago.
