Alltech, Lexington, KY, receives approval from the Kentucky Economic Development Finance Authority (KEDFA) for financial incentives for its rural community biorefinery project, the first such model in North America that integrates feed, food and fuel production.Caption: Alltech, Lexington, KY, receives approval from the Kentucky Economic Development Finance Authority (KEDFA KEDFA Kentucky Economic Development Finance Authority ) for financial incentives for its rural community biorefinery project, the first such model in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. that integrates feed, food and fuel production. The incentive is the first of its kind to be awarded by the Commonwealth. [ILLUSTRATION OMITTED] The incentive will total $8 million and will be based on a sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. refund for building and equipment costs, a state income tax wage reduction for new employment and a credit against state income taxes. In addition to the above funding and incentive plans, there is also a Department of Energy (DOE) grant application pending to further enable development in this exciting area which is expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. in February 2008. Thereafter the project will get under way. As part of the DOE proposal, Alltech's rural community biorefinery will be the first in the U.S. to utilize cellulose, such as switch grass, corn cobs and corn stover Corn stover consists of the leaves and stalks of maize (Zea mays ssp. mays L.) plants left in a field after harvest. It makes up about half of the yield of a crop and is similar to straw, the residue left in field after harvest of any cereal grain. , at levels up to 30% of its raw material for conversion to ethanol and other value-added products. The facility, estimated to cost approximately $40 million, will be located in Springfield, KY, and is expected to employ 93 people when operating at full capacity. |
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