LATIMER, IOWA, US — Farmer-owned oats processor Green Acres Milling plans to construct a $55 million processing facility in Albert Lea, Minnesota, US, with a goal of supporting growth for the Midwest oats industry, KIMT3 News reported.

Green Acres founder Landon Plagge told the television station the project is being funded through the investment of 60 farmers from Minnesota, Iowa and Wisconsin. He said the facility is expected to break ground in spring 2025 and open in July 2026.

To facilitate the project, the Albert Lea City Council on Nov. 12 approved $741,600 in tax increment financing that will be awarded to the plant on Aug. 1, 2027, and will last for the next two years.

Plagge said the new facility will occupy about an acre of land when finished, with room for expansion and a goal of processing 3 million bushels annually to meet a growing demand for oat-based products such as oat milk, bread and cereal.

Plagge said Green Acres also is promoting oats to farmers as a less nitrogen-dependent option that can help maintain soil health and reduce nitrogen pollution.