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Elk Point City Council President Joyce Bortscheller say the loss of the town's largest employer reinforces the need for the proposed Hyperion Energy Center.

"It can't get here soon as enough as far as I’m concerned as far as the jobs and the economy,'' Bortscheller said of the oil refinery and power plant, which would be built just north of Elk Point in rural Union County. "The revenue stream that is going to happen is going to be unbelievable.''

Her comments came on a day that residents of the southeast South Dakota city of 1,700 learned Terex had shuttered its Load King trailer plant, "Elk Point plant shuttered.''

Though the closing its effective immediately, the facility's 73 employees will remain on the payroll for two months.

Obviously, the proposed 400,000-barrel-per-day Hyperion refinery won't help out the town's current employment situation any time soon. Construction on the $10 billion energy center is not scheduled to begin until 2011.

After the work starts, it would take four years to complete the project, which would be one of the largest single capital investments in U.S. history.

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