Ethanol Plant Job Cuts 22 Feb 13

High corn prices and a low return on ethanol has led to the loss of 45 full-time jobs in Fairmont. Biofuel Energy Corporation stopped producing ethanol in September, but at that time said they were not anticipating layoffs because they wanted to be ready to restart the moment market conditions improved. But with a dismal 2012 corn harvest due mostly to the drought gripping the Midwest, company officials say that the plant will likely remain idle until this year’s harvest is complete. The 15 remaining employees will operate Biofuel Energy’s grain storage facility. The company had about 135 employees before the shutdown and related job cuts.