Tax Credits Help in Ethanol Plant Construction in Ohio

One of the 19 companies involved in business location or expansion projects recently announced for Job Creation Tax Credits by Governor Bob Taft is AS Alliances Biofuels LLC (ASA), which plans to construct an ethanol production facility in Bloomingburg (Fayette County).

The facility, at full production, will produce a total of 100 million gallons of ethanol per year and 300,000 tons of distillers grains to be sold to cattle and hog feed markets. The facility will be constructed adjacent to a Cargill-owned grain facility that will supply all the corn for the ethanol production process. If located in Ohio, this $143,000,000 million project is expected to create 58 new jobs within the first three years of initial operation. Approved by the Ohio Tax Credit Authority, the company’s 50% tax credit would be $361,216 over a seven-year term and the company would be required to maintain operations at the site for 14 years. ASA is an operating company that will be owned by AS Alliances Holdings, Cargill Inc., Fagen Inc., and United Bio Energy. Other state assistance committed to this program includes Ohio Investment Training Program (OITP) and roadwork development grants. The Job Creation Tax Credit is a refundable tax credit that equals a percentage of new state income tax withheld on new, full-time employees in Ohio. It is expected to create more than 1,000 jobs and retain more than 3,000 positions.
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