Agribusiness Bunge North America is preparing to inject $445 million into an expansion project at its Morristown, IN processing plant, including $360 million toward the acquisition of new machinery and equipment, according to a recent report in the Indiana Business Journal. $85 million will go toward construction and improvements to the firm’s existing soy crush plant.

Slated to reach completion in the final months of 2025, the project is expected to create 70 additional jobs at the site, the newspaper detailed. 107 workers are currently employed there.

The Indiana Economic Development Corp. entered into an incentive agreement with Bunge to provide $1.75 million in tax credits if the agribusiness meets job creation and investment targets, the Journal said. Bunge’s Morristown location produces animal feeds and oil from soybeans.