May 26, 2006

NEW YORK: Bio-Fuels Production Tax Credit

As the song says, "if you can make it here you can make it anywhere." I don't think they were talking about ethanol but John Lincoln of the New York Farm Bureau seems ready to prove the point.

From an article on the ever informative Renewable Energy Access website, here are a few excerpts about New York's funding proposal to spark ethanol and cellulosic ethanol biorefinery construction in the state. New York joins the lengthening list of states that want to be seen as the national leader in biofuel production.


New York Farmers Applaud Biofuels Bill
May 26, 2006

New York Farm Bureau said that the finalization of the Bio-Fuels Production Tax Credit and a recently announced $20 million state funding proposal for cellulosic ethanol will position New York as a national leader in biofuel production.

"There is no doubt that the fast-growing industry of biofuel production will have a significant and beneficial impact on the farm families in New York State," said John Lincoln, president of New York Farm Bureau.

The Bio-Fuel Production Tax Credit makes companies eligible for a tax credit for each gallon of renewable fuel they produce. It was passed by the legislature this spring and recently signed by Governor Pataki , who announced this week a $20 million program in the state budget for the development of a cellulosic ethanol pilot facility.

The tax credits and the cellulosic program will provide critical incentives for production facilities to locate in New York State and send a clear signal to the investment community that the state is leading the charge on this front, Lincoln said.

At least one and possibly several large biofuels plants are slated to come into production in the state, supported by a partnership between New York Farm Bureau, Empire State Forest Products Association, New York Corn Growers Association and environmental organizations such as National Resources Defense Council.

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