MITCHELL, SD (Mitchell Now) — The new High Plains Soybean Processing plant near Mitchell is gaining momentum in its first months of operation, and additional state support is helping accelerate its growth. The South Dakota State Rail Authority has approved $5.7 million in low-interest loans to expand the plant’s rail capacity as production increases.
Mitchell Development Corporation CEO Mike Lauritsen said the project is an example of economic development that brings new dollars into the region.
“Now we have the processing plant, High Plains Processing, that’s adding value to what the producers are growing here, and then they’re selling it outside of South Dakota’s borders,” Lauritsen said. “We’re not rotating money within the community. We’re bringing new money into the community.”
The plant is providing a stronger market for local producers as well. Soybean farmers are earning an additional 25 to 30 cents per bushel, support Lauritsen says is arriving at a critical time. The operation also supplies about 100 jobs to the Mitchell area.
Handling roughly 35 million bushels of soybeans, High Plains Processing requires significant rail capacity to move finished products to market. The newly approved rail authority loan will help fund infrastructure allowing the facility to manage nearly 150 rail cars per week once running at full scale.
Officials say the rail expansion is essential to keeping up with demand and ensuring the plant reaches its full economic potential for both the region and the state.