BISMARCK, N.D. (AP) – North Dakota’s state Mill and Elevator had $14.2 million in profits during its last budget year, and the third-highest in the history of the state-owned facility in Grand Forks.
President and CEO Vance Taylor on Friday reported the mill’s profits for the budget year, which ended in June. The profits were up from $9.7 million last year. The record $16.7 million came in 2015.
Taylor says better-quality spring wheat and durum, along with a 6.7 percent increase in shipments led to the profits.
The mill began operating in 1922 and is the largest wheat-grinding factory in the U.S. The mill buys most of its wheat from North Dakota farmers.
Most of the mill’s profits go into North Dakota’s general fund, which finances a variety of state programs.
