Officials from the state, Carroll County, Carrollton, and Chillicothe, as well as past Councilman-at-Large David Moore, spoke during a groundbreaking ceremony for Tara Industries near Tina Monday morning.
Senator Denny Hoskins and State Representative Joe Don McGaugh also attended.
The company converts a variety of plant and animal derived products into clean bio-fuels and glycerin, and plans to begin construction on the 500-acre site within the next week on the site it purchased from American Energy Producers Incorporated.
American Energy Producers began building facilities of its own but did not complete construction.
About 75% of the bio-diesel plant was completed when the project was abandoned.
Carroll County Clerk Peggy McGaugh says American Energy Producers already developed and established everything required for an industrial business through county planning and zoning.
Tara Industries expects to have a bio-diesel site, corn syrup site, and a fish bait site once construction is complete.
Fish bait production is scheduled to begin in 30 to 45 days, glycerin production is planned to begin in August, and bio-diesel production is scheduled to begin next winter.
The company plans to provide 400 to 500 jobs in the next five to ten years.
Twenty-one workers are employed at the Tara Industries site for initial development.