Grass-roots economic development

The concept for Midwest Grain Processors emerged from the corn processing committee  of AgVentures Alliance, a development organization dedicated to increasing farmers’ incomes by providing opportunities for them to participate in the processing of the agricultural commodities they produce.

In April 2000, several AgVA members made a commitment to turn the idea of a farmer-owned ethanol plant into a reality and created MGP as a new legal entity. Together, MGP and AgVA developed a business plan for the ethanol plant as part of a new agricultural industrial park and began planning a membership drive. The result was a membership base of 1,000 farmers committing a supply of corn and $17 million of equity.

Opportunities beyond the farm

Midwest Grain Processors was originally structured as a farmer-owned cooperative. All members were required to be agricultural producers (individual farmers, farm partnerships, farm corporations or farmer-owned cooperatives) and were required to deliver corn to the plant, either directly or through arbitrage.

Members of the cooperative voted in 2004 to create Midwest Grain Processors LLC, providing access to additional equity funding for the plant expansion and growth to include other facilities. Today, MGP Cooperative continues to own more than 30% of Global Ethanol, LLC, with the opportunity to continue to grow with the company alongside its new investment partners.

A seven-member board of directors, elected by the cooperative’s members, governs MGP Cooperative. (CLICK HERE FOR CURRENT BOARD MEMBERS).

For more information about purchasing or selling stock for Midwest Grain Processors Cooperative, contact Alerus Securities.
Phone: 800-279-3200
Fax: 701-795-3447
Website: www.alerusagstock.com

 

*MGP will not be involved in soliciting or negotiating any transfer of stock .