A new law expanding state incentives for biodiesel will help boost biodiesel production in Iowa and sustain demand for soybean growers, according to Grant Kimberley, Iowa Biodiesel Board executive director.
Iowa Gov. Terry Branstad signed the incentives package, SF 2309, into law in May at the REG Newton biodiesel plant in Newton.
The bill includes a tax credit that helps keep the state’s 13 biodiesel producers competitive on a national scale and also includes a retailer’s credit that entices fuel retailers to carry higher blends of biodiesel than they may currently carry.
"With these additional incentives, Iowa is perfectly positioned to experience even more economic growth in environmentally-friendly biofuels," Kimberley said. "Renewable fuels like biodiesel point the way to a more...