Georgia Sales Tax Exemption Proposal to Aid Biofuels Facilities

New York, NY [] Governor Sonny Perdue of Georgia has proposed a four percent sales tax exemption for materials and equipment used in the construction of biofuel facilities in Georgia. This incentive would be available to facilities producing and processing certain biofuels such as ethanol, biodiesel and butanol that are derived from Georgia-grown agriculture products and biomass. The proposal was applauded by Xethanol, which recently purchased a facility in Georgia to retrofit for ethanol production, which is expected to begin in 2007. Xethanol just announced three new board members (David R. Ames, William P. Behrens and Marc J. Oppenheimer) and has engaged Northeast Securities to assist in capital raising, mergers and acquisition matters and strategic planning.
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