Tax credit boosts biodiesel

Brad Wilson
Brad Wilson, general manager of Western Iowa Energy in Wall Lake, says the biodiesel tax credit passed by Congress in late 2019 will provide certainty which will help spur investments and create jobs in rural Iowa communities. PHOTO / GARY FANDEL

Renewal of the biodiesel tax credit late last year provided an immediate boost to balance sheets at production facilities across Iowa and the United States, says Western Iowa Energy General Manager Brad Wilson.

“It instantly helps out your balance sheet, and it helps your potential future balance sheet issues like capital expenditures and things like that,” said Wilson, who also serves as chairman of the Iowa Biodiesel Board. "It allows us to do some capital expenditures that before we would have been pulling back on because we didn’t know what the future holds.” 

Congress extended the $1 per gallon biodiesel tax credit, which expired in 2017, for five years retroactive to 2018 through 2022. The bill also extended a tax credit...

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