Ohio Renewable Fuels LLC, a new firm that plans an $87 million ethanol plant in Fremont expected to employ 37 within three years, got job-creation tax credits yesterday valued at more than $102,000 from the Ohio Tax Credit Authority in Columbus.
The agency said the firm is being developed by Michigan Sugar Co., a Bay City, Mich., cooperative representing about 1,300 sugar-beet growers.
The plant, at which workers are to be paid $13 an hour on average, is to produce 50 million gallons of fuel annually in a 100,000-square-foot former sugar-beet processing facility, the agency said. The company is required to maintain ethanol operations for 14 years.
A public stock offering will be made to accredited investors, according to the tax-credit authority.