IBB News Releases
- Iowa Legislature Votes to Fund Critical Biofuels Infrastructure Program
Iowa Legislature Votes to Fund Critical Biofuels Infrastructure Program
May 3, 2018
(ANKENY, IOWA) – The Iowa Legislature has voted to fund the Iowa Renewable Fuels Infrastructure Program for another year, providing cost-share grants to help fuel distributors and retailers modernize equipment to include biofuels like biodiesel. Grant Kimberley, executive director of the Iowa Biodiesel Board, issued the following statement:
“We commend the legislature for prioritizing the Iowa Renewable Fuels Infrastructure Program, recognizing the many benefits the program has delivered in Iowa. The program has proven itself a legislative success story, helping to increase availability of renewable fuels for Iowa consumers, driving economic growth, and supporting the ag economy.
“An Iowa Department of Revenue reports that in 2017, for the second year in a row, more than half of diesel gallons sold in the state contained biodiesel. This growth is promising and shows the program’s positive effect on our fuel supply, helping Iowa maintain its role as top biodiesel-producing state in the nation. Also, since the program began 2006, just over $30 million in state funding and a $5 million federal investment has helped spur an estimated $138.8 million in private investment. That’s an incredible return on investment of about 4–to–1 for Iowa tax payers.
“We’re proud of Iowa’s leadership position in progressive state biodiesel policies, and thank the legislature and Governor Kim Reynolds for their strong commitment to this industry.”
In 2017, Iowa’s biodiesel plants produced about 285 million gallons. According to a study by ABF Economics, biodiesel activity in Iowa generated about 3,800 full-time equivalent jobs and contributed $278 million in household income.
The Iowa Biodiesel Board is a state trade association representing the biodiesel industry.
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