DuPont Will Repay The State Of Iowa More Than $10 Million

November 19, 2018 11:56 AM
 
DuPont owes the state of Iowa $10.5 million after closing and selling its cellulosic ethanol plant in Nevada, Iowa. In sum, the company will repay all but $3.7 million it received in 2011 in incentives.

DuPont owes the state of Iowa $10.5 million after closing and selling its cellulosic ethanol plant in Nevada, Iowa, according to the Des Moines Register. In sum, the company will repay all but $3.7 million it received in 2011 in incentives.

Cellulosic ethanol uses by products such as corn cobs, stalks and residue to create the renewable fuel. When DuPont closed the plant it laid off 90 workers, Des Moines Register reports. It will sell the plant to Verbio North America.

The state of Iowa awarded DuPont $17.5 million in state support four years ago, the Register continues. Read more about what the company owes and what Verbio plans for the cellulosic ethanol plant’s future at “DuPont will repay $10.5 million in state incentives, under approved settlement.

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close