Business in brief: Biochemical plant coming to Fishtrap

A $2 million state grant will add a Seattle biochemical company to the tenants at the Barr Regional Bio-Industrial Park under construction at Fishtrap.

With the funds from the Washington Community Economic Revitalization Board, Blue Marble Energy Corp. will build a pilot plant capable of producing 858 metric tons of biochemicals and 700 metric tons of ammonia annually from food and farm waste, algae and other organic materials.

Wood is not among the organic materials to be processed because it contains lignin, which interferes with the anaerobic fermentation that digests the waste for conversion into natural gas and other materials, spokeswoman Danielle Hendrix said.

The Fishtrap plant, 20 miles southwest of Spokane, will employ 30 to 50 workers and consume about 1,000 tons of biomass each month. Groundbreaking is scheduled for April.

The $2 million was awarded through the Odessa Public Development Authority. Also in the industrial park, a regional composting facility is under construction with help from $2 million in loans and grants.

Bert Caldwell

Job losses could bottom out soon

Economists expect the joblessness that has weighed down the nation’s economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.

While signs have pointed to the end of the recession, joblessness remains rampant. The national unemployment rate jumped to 10.2 percent in October, the highest in 26 years. About 9 million people currently receive unemployment benefits.

The November outlook by the National Association for Business Economics, which is set to be released Monday, shows economists expect net employment losses to bottom out in the first quarter of next year. Employers are seen starting to add to their payrolls after that.

Associated Press

Campbell Soup sees profit rise

MOUNT LAUREL, N.J. – Price-conscious grocery shoppers are being choosy about what they buy to cook at home, even from the value-oriented Campbell Soup Co.

The company reported Monday that its first quarter profit rose 17 percent with the help of lower costs from increased efficiency in getting its products from its plants to store shelves, as well as lower prices for grain ingredients. But revenue fell 2.1 percent to $2.2 billion with dips in sales for most of its categories.

Earnings were $304 million, or 87 cents per share, in the first quarter, up from $260 million, or 70 cents per share, a year ago. But the company says the year-ago profit figure included one-time charges, including some related to closing facilities in Australia and Canada and restructuring management, that made it look worse than it was.

Associated Press