Valero Renewable Fuels purchased the ethanol plant in Mount Vernon, Ind., from Aventine Renewable Energy on Friday, March 21, 2014. Valero owns another ethanol plant in Indiana about 40 miles northwest of Indianapolis and nine other plants across the U.S.
The ethanol plant has the capacity to produce 110 million gallons each year, but Aventine closed the plant in 2012 due to a decline in the market. Valero spokesperson Bill Day said the company hopes to reopen the plant in the next few months and bring 60 to 65 new jobs to the area. Nearby farmers and transportation companies will also benefit from the revival of the ethanol plant in Mt. Vernon.