RUSHVILLE — A pilot production plant based in Switzerland that has successfully been able to turn corn field waste into sustainable products is expanding into the United States, and it's settling in Indiana.
Cormo USA Inc. announced on Monday that it is set to establish its first U.S. plant in Rushville, thus creating 250 new, high-wage jobs in central Indiana by the end of 2023. And the company is looking to start hiring as soon as August 2019.
"Indiana's economy is increasingly global, and we are excited to welcome yet another international company to the Hoosier state," Gov. Eric Holcomb said. "With strong roots in agriculture and a flourishing tech sector, Indiana is the perfect destination for innovative companies like Cormo USA to locate as they work to develop and refine critical solutions."
According to the release, the new facility will process maize straw from up to 150,000 acres of corn fields a year into a 100 percent sustainable peat moss substitute for agricultural uses and into foam products for material science uses.
The AgTech company plans to begin hiring for plant operations and management positions in the next three to four months. They will start hiring for additional positions in logistics, scientific testing, and marketing in 2020.
According to Cormo USA, the average salaries offered to employees will be 50 percent above the state's average wage.
Cormo is expanding into the U.S. to broaden its high-technology business, leveraging the country's significantly larger corn production volume and contributing to positive economic and sustainable developments.
The company, which was incorporated as a joint venture between Switzerland-based Cormo AG and Florida-based Sustainable Projects Group Inc. in 2018, will invest approximately $29.5 million to establish the Rushville plant. The plant will take up 10 acres in the Commerce Park at Rushville.