Capitol Digest: Ethanol Incentives Announced

Agriculture, Business News/Analysis, Deliver Dispense, Federal Agency/Executive Branch, grants, Infrastructure, Iowa

September 29, 2016

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by Tom Thoma (Globe Gazette) Ethanol Incentives: Iowa Secretary of Agriculture Bill Northey said Wednesday about $350,000 in uncommitted funds are now available to interested retailers in Iowa seeking cost-share funding to help buy and install blender pumps and underground storage tank infrastructure for higher blends of ethanol.

Applications must be received at the Iowa Department of Agriculture and Land Stewardship’s office by 4 p.m. Oct. 14. Pumps and tanks funded through this round of funding are required to be operational by the end of the federal fiscal year on Sept. 30, 2017.

“Through this program we have supported the installation of more than 200 blender pumps and 16 underground storage tanks and now have some additional funds to add even more,” Northey said.

Iowa received a $5 million competitive grant from the U.S. Department of Agriculture’s Biofuel Infrastructure Partnership program to support the initiative, with $2.5 million in matching funds from the Iowa Renewable Fuels Infrastructure Program.

The fueling sites applying for assistance will also be required to provide a minimum of $2.5 million.

Pumps and tanks funded through this program are required to be in operations for the intended purpose of dispensing higher blends of ethanol for at least five years from the date they enter service. READ MORE

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