Governor JB Pritzker joined state and local leaders along with the Illinois Department of Commerce and Economic Opportunity (DCEO) to celebrate the groundbreaking of Incobrasa Industries LTD's expanded manufacturing facility. The expansion represents more than $250 million capital investment and will create 40 new full-time jobs while retaining 200 jobs — generating economic benefit for the region and state.
"With Incobrasa's announced expansion today, the company will more than double its production capacity by 2030. That's a win for Gilman, for Illinois, and for the nation," said Governor Pritzker. "In addition to sustaining and creating new, permanent, good-paying careers, this new $250 million expansion will mean dozens of construction and installation jobs for workers here in Iroquois County and across the region. We're making it easier for companies to do business in Illinois. We're investing in our skilled workforce. And we're modernizing our transportation systems, roads, ports and airports. Illinois is on the rise and open for business."
Incobrasa is an industry leader in soybean processing that has had a manufacturing presence in Illinois since 1997. The company's capital investment will construct a new soybean crushing facility — adding 170,000 square feet of new state-of-the-art production facilities. The company will also be constructing a 50-acre solar array to help fuel the facilities.
The Gilman plant processes soybeans to produce animal feed, packaged vegetable oil, and biodiesel. This expansion will enable the company to make use of the vast supply of soybeans that are available in Illinois, which is the largest soybean producer in the United States.
"Today is an exciting day for Incobrasa and our community. Because of the EDGE tax credit — we will be able to expand our workforce, and our footprint with local farmers," said Aluizio Ribeiro, president/CEO of Incobrasa. "We want to extend a special thank you to Governor JB Pritzker, Deputy Governor Andy Manar, and DCEO Director Kristin Richards for their assistance and guidance for their dedication to ensuring that businesses flourish and expand in Illinois."
"Bolstered by DCEO's EDGE tax credit, Incobrasa's $250 million investment at its Gilman location will create jobs and boost the economy," said DCEO director Kristin Richards. "Through a variety of business attraction incentives, the State of Illinois is committed to supporting businesses with a shared commitment to investing in Illinois' communities while spurring economic development."
In addition to the soybean crushing plant, the project will include a 50-acre solar array. This will have the capacity to generate 5 megawatts of energy, which can be used to provide power directly to the plant or to feed the grid.
As part of the expansion, the company received an Economic Development for a Growing Economy (EDGE) tax credit, which specifies a minimum capital investment of $155.8 million.
For more information, visit www.dceo.illinois.gov.