According to today's press release, "The immediate advantages to both organizations would be alignment between two strong midwestern agricultural operations, and potential synergies of procurement, logistics, and other opportunities. Both Ceres Solutions and United Prairie would continue to operate independently in their customer-facing segments and compete in the marketplace."
United Prairie was formed in 1996 combining the crop production divisions of Unity Grain and Grand Prairie Cooperative. Over the past 20 years, the operation has grown to 11 retail locations throughout central Illinois.
"The proposal demonstrates the ongoing importance of developing strong strategic partnerships to continue to serve local farmers with products, services, technologies, and innovation," said Curt Miller, CEO of United Prairie. "United Prairie’s direction has always been to add cooperative owners that enhance our ability to provide the highest level of service and value to the growers we serve."
The transfer of ownership is expected to be completed by August 1.
Jeff Troike, CEO of Ceres Solutions added, "We’re pleased to take this next step in making an investment that will benefit both Ceres Solutions and United Prairie."
United Prairie to add partner, Ceres Solution to acquire one-fifth ownership
TOLONO -- Ceres Solutions, an agricultural cooperative based in Crawfordsville, IN, announced today the company's intent to purchase a significant share of Tolono-based United Prairie LCC.
Ceres Solutions would become 20% owner of the operation and existing stakeholders in United Prairie would have reduced ownership percentages accordingly.
According to today's press release, "The immediate advantages to both organizations would be alignment between two strong midwestern agricultural operations, and potential synergies of procurement, logistics, and other opportunities. Both Ceres Solutions and United Prairie would continue to operate independently in their customer-facing segments and compete in the marketplace."
United Prairie was formed in 1996 combining the crop production divisions of Unity Grain and Grand Prairie Cooperative. Over the past 20 years, the operation has grown to 11 retail locations throughout central Illinois.
"The proposal demonstrates the ongoing importance of developing strong strategic partnerships to continue to serve local farmers with products, services, technologies, and innovation," said Curt Miller, CEO of United Prairie. "United Prairie’s direction has always been to add cooperative owners that enhance our ability to provide the highest level of service and value to the growers we serve."
The transfer of ownership is expected to be completed by August 1.
Jeff Troike, CEO of Ceres Solutions added, "We’re pleased to take this next step in making an investment that will benefit both Ceres Solutions and United Prairie."
According to today's press release, "The immediate advantages to both organizations would be alignment between two strong midwestern agricultural operations, and potential synergies of procurement, logistics, and other opportunities. Both Ceres Solutions and United Prairie would continue to operate independently in their customer-facing segments and compete in the marketplace."
United Prairie was formed in 1996 combining the crop production divisions of Unity Grain and Grand Prairie Cooperative. Over the past 20 years, the operation has grown to 11 retail locations throughout central Illinois.
"The proposal demonstrates the ongoing importance of developing strong strategic partnerships to continue to serve local farmers with products, services, technologies, and innovation," said Curt Miller, CEO of United Prairie. "United Prairie’s direction has always been to add cooperative owners that enhance our ability to provide the highest level of service and value to the growers we serve."
The transfer of ownership is expected to be completed by August 1.
Jeff Troike, CEO of Ceres Solutions added, "We’re pleased to take this next step in making an investment that will benefit both Ceres Solutions and United Prairie."
Winter Wonderland: Sentinel area snow scenes
With much of the Sentinel area blanketed from this week's snowstorm, we asked followers on Twitter and Facebook to send us their snow photos to share. Below are some of the moments and scenes readers wanted to share.
Did you get a really cool snow pic from this week's storm that we can share with our readers? Email it to us at editor@oursentinel.com. Deadline for submissions is 6pm on Saturday, February 5.
Sidney
Sophia Dillman makes a snow angel. Photo courtesy of Elizabeth Whalen.
Tolono
Duke. Photo courtesy of Alli Griffin.
Tolono
Photo courtesy of Paul Noerenberg.
Sidney
Sophia Dillman out enjoying the heavy snowfall. Photo courtesy of Elizabeth Whalen.
Tolono
Photo courtesy of Cassie Roberts.
Tolono
Photo courtesy of Dave Bryan.
Tolono
Photo courtesy of Gary Brown.
Tolono
Photo courtesy of Josh Hellmer.
Tolono
Photo courtesy of Toni Waltzer David.
Did you get a really cool snow pic from this week's storm that we can share with our readers? Email it to us at editor@oursentinel.com. Deadline for submissions is 6pm on Saturday, February 5.
Governor's budget proposal includes tax savings for Illinoisans
This week, Governor J.B. Pritzker will propose that state lawmakers pass legislation that would put a few extra greenbacks in the pockets of Illinoisans.
The upcoming proposal outlines three tax breaks for residents. It includes suspending the 1% sales tax on groceries for one year. State motor fuel taxes were set to increase this year. That rate hike would be frozen at 39 cents per gallon. The biggest savings in the governor's play would come by way of a property tax rebate of up to $300 for homeowners.
Homeowners will still be able to deduct the normal 5% rate of their property tax bills up to $300 from their income taxes, but the new plan would double the value of that deduction with a direct one-time payment. This rebate will apply to workers making $250,000 annually or less or to couples making $500,000 or less.
Taxpayers will get that in the form of either a check or an electronic deposit after filing a state income tax return. A return must be filed even if the individual does not owe anything in taxes.
Collectively, Illinois consumers would save about 1 billion in taxes if legislators advance the proposal. With inflation at 7% and mid-term elections on the horizon, the abatement would be paid by the nearly 1 billion currently in surplus thanks to marijuana tax revenues and federal Covid relief monies the state has received.
The reduction in tax levies would last one year. However, there is scuttlebutt that they could remain in place a bit longer.
Pritzker is not the only governor looking to cut taxes for their residents. Indiana and New York are also attempting to advance proposals aimed at lowering taxes for their residents.
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