News Articles

From today's EDA Newsletter is a story about clean energy in NW Florida:

EDA Investment Spurs Environmental and Economic Benefits

When Green Circle Bio Energy Inc. decided to open a new wood pellet plant, it chose Cottondale, Florida, in Jackson County. This rural county in Florida's panhandle is now emerging as an alternate energy industry cluster, following an economic transition due to a declining timber industry and a changing agricultural base.

Strong regional leadership in the area was also instrumental in creating this alternate energy industry cluster. Investing nearly $1.2 million, the U.S. Economic Development Administration's assistance to this region has included water, sewer, and road infrastructure improvements to attract new businesses. Now, Green Circle Bio Energy Inc. has invested $93 million to construct the new alternative energy production facility. This wood pellet facility will produce an annual capacity of 560,000 tons of wood pellets to be supplied to central heating companies and the power generating industry for co-firing in coal based power plants. The wood pellets, made from sawdust and pulpwood, help reduce fossil fuel use and subsequent CO2 emissions, providing a cleaner alternative energy source. Over 50 new direct jobs – and an additional 100 jobs generated by suppliers – are expected as a result of this wood pellet facility.

This will be the largest wood pellet production company in North America, and 100 percent of its production is under contract for export to Europe. The facility considered locating in Russia and South America, but after much analysis, chose to locate in Florida's panhandle, close to the raw materials needed to produce its pellets. A first-of-its-magnitude initiative, it will eventually export these pellets across the globe. Not only will the facility use energy saving methods in its construction, but will also be powered with electricity from the local Waste Management landfill, and tree bark from the pulpwood will fuel the furnaces.

Rising gas and oil prices and growing concerns of climate change are creating a growing demand for energy alternatives. Forward-thinking businesses, such as Green Circle Bio Energy are capitalizing on this demand and are finding that environmental considerations are not a hindrance to the bottom line, but rather, a source of innovation and an opportunity for growth. In the case of Green Circle Bio Energy, this growth will aid in transitioning northern Florida to more efficient alternative fuel choices, while also creating more higher-skill, higher-wage jobs as the company builds more and continues to engage in the worldwide marketplace.

For more information on Green Circle Bio Energy Inc., visit: www.greencirclebio.com/index.php

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