By Steve Ralston, Business Insider The United States is poised to get its first big new agri-tech plant, a $3.5 million plant in the Ohio River Valley that will produce a mix of feed and feedstocks to make corn.
Agri-Tech Ohio, a division of the state Department of Agriculture, said the plant is expected to open next year.
It’s being built in the U.S. Department of Energy’s Ohio Valley Energy Research Center near Toledo, Ohio.
The facility, part of a $7 billion program to develop new technology for farming and farming services, is expected, as are other similar programs, to produce feedstocks for agribusiness and other industries.
In 2017, Ohio farmers are growing nearly 1.7 million acres of corn and soybeans, according to the Ohio Department of Natural Resources.
The state is one of the largest producers of feedstock for livestock and is one with a significant presence in the agribUSagribusys growing feedstock industry.
The U.N. Food and Agriculture Organization, a non-profit group, estimates that the feedstock market is worth $5.5 trillion worldwide.
In the U, the feedseed industry is valued at $2.3 trillion, the group said in a report last year.
The feedstock sector employs more than 4.3 million people, according the UPI News Agency.
More:Agricultural technologies and agricultural production are a key driver of the U;s economy.
Thats why a large share of the corn crop is produced with feedstock.
But agribis agribotics research center, in the city of Toledo, has been working on ways to make the feedstuffs feedstock profitable.
In a 2017 report, the center found that in a single year, Ohio corn growers could earn up to $6.75 per acre by making their feedstock more profitable.
The same report noted that the cost per acre would drop from about $7 to $5 per acre if feedstock were to be produced with biotechnology.
The farm is currently producing a mix from corn meal, soybean meal and cottonseed meal.
The facility uses a hybrid mix of corn, cotton and soybean grains.