ANKENY, Iowa - January 2, 2013 (Investorideas.com renewable energy newswire) The New Year brings new prosperity to Iowa 's bourgeoning energy industry, thanks to Congress clearing a fiscal package that reinstates the biodiesel tax incentive for 2012 and 2013. President Obama is expected to quickly sign the bill into law. Randy Olson, executive director of the Iowa Biodiesel Board, released the following statement:
"The passage of the biodiesel tax incentive will mean tangible job creation in Iowa and beyond. Encouraging production of American-made fuel brings economic development and energy security – two of our nation's top priorities. This is an investment in American energy that will pay dividends.
"Iowa biodiesel experienced a mixed bag in 2012. Although the federal Renewable Fuel Standard helped create market stability, one Iowa plant was forced to shut its doors temporarily. The reinstatement of the tax incentive will help Iowa biodiesel reach its full potential. In 2013, we can expect a thriving industry that contributes even more to the state's economy.
"According to a study conducted by Cardno ENTRIX, an international economics consulting firm, the national biodiesel industry could support some 112,078 jobs with the tax credit in place versus 81,977 without it. Additionally, the return of the incentive is projected to support an additional $3.1 billion in GDP. As the nation's leading biodiesel producer, Iowa stands to gain a significant slice of the jobs and economic growth as a result of this smart fiscal policy. Our state's producers are ready and eager to play a greater role in the nation's laudable progress in domestic energy independence."
Disclaimer: The following news is paid for and /or published as information only for our readers.Investorideas.com is a third party publisher of news and research. Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All Investment involves risk and possible loss of all investment. Disclaimer in full, Investorideas.com Disclosure Please read individual disclosures for featured stocks.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info