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Ag tech company investing nearly $30 million to establish Indiana facility

Corma USA, which uses technology to turn corn field waste into sustainable products, plans to establish operations in Rushville.

The company will invest $29.5 million to establish its first U.S. production plant in Indiana.

The new facility will process maize straw from up to 150,000 acres of corn fields each year into a 100 percent sustainable peat moss substitute for ag uses and into foam products for material sciences uses.

Indiana Governor Eric Holcomb says the he is excited to welcome another international company to the Hoosier state, which he says is the perfect destination for innovative companies like Cormo USA.

The new facility will create up to 250 jobs by the end of 2023.

The company plans to break ground on the new facility this summer.

Cormo USA is a joint venture between Switzerland-based Cormo AG and Florida-based Sustainable Projects Group.

The Indiana Economic Development Corporation is offering up to $3.5 million in conditional tax credits based on job creation plans. The city of Rushville is considering additional incentives.

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