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Sep. 30, 2024
Source: Ag Innovation Campus news release Crookston, MN -- We must announce with deep regret that the operations of the Ag Innovation Campus (AIC) processing plant have come to an end. At our groundbreaking event, Minnesota Governor Tim Walz recognized that this was a bold idea. It certainly was and everyone involved gave it a valiant effort that we are all proud of. The vision and mission were to serve as an incubator for agricultural innovations with the goal of fostering new and novel products, creating jobs and increasing the value of agriculture in the region, state and nation. This was a big goal and, with the help of several research-oriented organizations, we believe we were on the right path and had made strides to establish innovative processes for value-added soybean products. Funding for the AIC came, in large part, from loans advanced by Ag Country Farm Services, as well as investments from private entities and grants from various institutions. While our Board of Directors strongly believes in the AIC mission and has put in years of volunteer effort to advance the AIC mission, it has come time to bring the process to an end. To assist the lenders, AIC has made an Assignment for the Benefit of Creditors, which will allow secured parties and others to which AIC owes an obligation to recover their funding to the extent possible. The Assignment for the Benefit of Creditors has put in place an assignee or receiver who will now be responsible for collecting and distributing proceeds from the sale of the AIC assets. That assignee/receiver is: Alex Smith Creative Planning Business Alliance, LLC 3800 American Blvd. W., Suite 1000 Bloomington, MN 55431 alex.smith@creativeplanning.com Individuals or entities that would like to file a proof of claim should contact the assignee/receiver. The AIC Board of Directors has been grateful for the support of the community and the many organizations that have contributed time and financial resources to the AIC effort. Tweet |
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