I fully support the proposed project by Midwest Fertilizer Company to build a $1.8 billion state-of-the-art plant and create thousands of jobs for Hoosiers. Midwest Fertilizer will build, hire and train employees here, bringing a major boost to Posey County and the surrounding economy.
Initial concerns about the Fatima Group, one of the investing partners with Midwest Fertilizer, were warranted. Fortunately, these concerns have been addressed by Fatima to the point that high ranking members of our federal government with intimate knowledge of the situation have thanked them for their partnership and efforts to prevent the misuse of their fertilizer products. It is important to note that while Fatima Group is a major investor in Midwest Fertilizer, 52 percent of the investors in the company stem from a worldwide portfolio of American, European and Asian interests.
Fatima’s efforts to work with the U.S. include voluntarily joining the International Fertilizer Association Product Security Task Force, reformulating their product to dramatically reduce its explosiveness and instate a no sale and buyback provision of the old product in the provinces nearest vulnerable combat zones. I never want to compromise the safety and security of our country’s men and women who put their lives on the line for the freedoms we enjoy every day.
Given recent developments, the investor groups involved with Midwest Fertilizer have shown to be willing and dedicated to meeting and addressing the concerns raised by the U.S. government, so American lives are not endangered.
I have worked hard in the Legislature to promote a pro-business environment that is welcoming to companies who are looking to start, grow or relocate their businesses right here in Indiana. Achieving that goal means keeping taxes low, giving businesses the opportunity to invest more of their capital in our workforce and expand their operations.
When we have an opportunity to take advantage of these policies and bring in a new business that will create thousands of high-paying jobs in Posey County, we need to work in a good faith manner that protects Hoosier taxpayers and spurs the local and state economies.
I applaud the Posey County Commissioners and the Posey City Council for voting unanimously to give the Posey County Economic Development Commission (PCEDC) permission to be the conduit issuer of bonds that will allow Posey County to build an incentive package of its own. Investors will purchase these bonds, and the PCEDC will use this money to substitute the revoked state incentives.
I have high hopes for the future of this project. Posey County has a great environment for private sector job growth. The plans Midwest Fertilizer has to bring jobs and economic development to our community is an excellent opportunity that we need to seize. I am excited about the potential for this new approach, and I applaud our local leaders for being innovative in their solutions-based approach on this issue.
