Florida-based Cormo USA Inc. has announced plans to establish its first U.S. production plant in Rushville and create up to 250 jobs by the end of 2023. The company, which uses technology to turn corn field waste into sustainable products, says it will invest nearly $30 million to build and equip a facility on 10 acres in Rushville’s Commerce Park.

Cormo USA is a joint venture between Switzerland-based Cormo AG and Sustainable Projects Group Inc. in Florida. It plans to break ground this summer on the Rushville facility, which will turn maize straw from up to 150,000 acres of corn fields into sustainable peat moss substitute each year. Cormo says that product can be used for agriculture and material science purposes.

The company plans to begin hiring for management and plant operations positions in the coming months, and for logistics, scientific testing and marketing positions beginning next year.

Cormo USA Board President Stefan Muehlbauer says the company chose Rush County because if "offers the perfect combination of entrepreneurial spirit, hardworking talent and agriculture, which is mission critical for our company."

The Indiana Economic Development Corp. is offering Cormo USA up to $3.5 million in conditional tax credits based on the job creation plans. The city of Rushville is also considering incentives.