A groundbreaking investment is set to transform Lafayette, Indiana, as a company plans to invest $430 million in a new facility that will revolutionize the production of polyester and PET bottles. This ambitious project aims to utilize dextrose derived from corn instead of fossil fuels, marking a significant shift in the global resin market.

The facility, expected to break ground by the end of next year, will be strategically located adjacent to PREMET, a long-established local producer. This partnership is crucial, as it will allow for a direct pipeline connection between the two facilities, enhancing operational efficiency.

The investment will not only bolster Lafayette's economy but is projected to create approximately 95 permanent jobs, with the potential to grow to nearly 200 as operations expand. During the construction phase, around 300 indirect jobs are anticipated, providing a substantial boost to the local job market. The positions will offer competitive wages, averaging $96,000 annually, attracting highly qualified engineers and management staff necessary for the specialized production process.

The facility's location is just northeast of PREMET's current plant, covering about 30 acres along US Highway 52 South. This strategic site selection is expected to facilitate seamless operations and foster a collaborative environment between the two companies.

As the project progresses, it promises to not only enhance Lafayette's industrial landscape but also contribute to sustainable practices in the chemical production industry. The anticipated startup of the plant in 2028 marks a significant milestone for the city, positioning Lafayette as a key player in the evolving market for eco-friendly materials.