USDA success story in Laurel, Nebraska - KTIV News 4 Sioux City IA: News, Weather and Sports

USDA success story in Laurel, Nebraska

LAUREL, Neb (KTIV) - Today the U-S-D-A highlighted some of the major benefits of its investments to support rural businesses and infrastructure in 2013.

One of the USDA success stories is bio-based startup company Laurel Biocomposites in Laurel, Nebraska.

USDA worked with a local bank provide a 5-million dollar loan guarantee that helped Laurel Biocomposites buy equipment and provide working capital for its first operation.

The company uses distillers grain, a bi-product from ethanol production to make a resin that's used by several plastic manufacturers.

Laurel Biocomposites CEO Tim Bearnes says the company is currently operating one production line, but construction on second line should be finished this month.

When full-scale production begins, the company plans to grow its work force to up to 15 workers on the plant floor.

Bearnes says they'll continue to add shifts as more business comes in.

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