The company is a subsidiary of Valero Energy Corporation in San Antonio, Texas. Valero Energy Corporation is an international manufacturer and marketer of fuels, power, and petrochemical products.
Valero Renewables plans to use the former Aventine Renewable Energy building at the Port of Indiana-Mount Vernon. It is expected to be running later this year.
It is currently hiring engineering, operations, maintenance, and administrative positions at Mount Vernon.
Valero currently operates 10 ethanol plants across the United States, including one in Linden, Indiana.
The Indiana Economic Development Corporation offered Valero Renewable Fuels Company up to $600,000 in conditional tax credits based on the company's job creation plans.
These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
Posey County approved additional incentives at the request of the Posey County Economic Development Partnership.