A $700 million investment from a Minnesota based farmer co-op is making a soybean development project possible in Evansville.

City Administrator Jason Sergeant says it’s the largest industrial development investment they’ve had, and the facility will process soy and food grade soy oil, and they hope to break ground in spring of 2024 and open in fall of 2026.

Sergeant says they expect to see a very long construction process, which will create a number of construction jobs and those workers will also boost the local economy by shopping at local stores and staying in local hotels.

Sergeant says the company building the facility told them when they are up and running they’ll be a year round facility with about 90 jobs on site.

The facility would be located along Highway 14.