On September 1, 1983, Gold-Eagle Cooperative first staked its claim on superior service to farmers in north central Iowa. After merging Farmers Elevator Company of Goldfield and Farmers Cooperative Company of Eagle Grove, we immediately began defining our company and designing our future.
In 1991, Renwick Farmers Cooperative members joined our organization, followed by Livermore Farmers Cooperative Elevator Company farmers in 1992 and shareholders in Corwith Community Cooperative in 1996. In those first 15 years, Gold-Eagle knew the answer to improved service was improved facilities. As our customers found ways to grow more corn and soybeans, we increased storage by 3 million bushels.
2002 will go into the records books as our largest growth year. In March 2002 we consolidated the membership and facilities of The Farmers Cooperative Society of Wesley and Titonka and in August of 2002 we were successful in adding the Hardy Cooperative Elevator of Hardy and Thor into our organization. Total storage at the end of 2002 was nearly 23 million bushels and ten years later as we approached the end of 2012, total storage is nearly 32 million bushels.
But storing grain isn't our ultimate goal. In July of 2004 we started an equity drive to build an Ethanol Plant in Goldfield. After successfully raising the necessary equity, CORN, LP broke ground in October of that same year with production of Ethanol beginning in December of 2005. The Plant consumes roughly 60,000 bushels (400 acres) of corn per day and employs 40 full-time employees. Thanks to the corn requirements of CORN, LP and our feed operations we are consuming all of the corn our members produce. In today's agricultural world, adding value to our member’s grain does indeed create a golden relationship.