Refineries in Iowa, a possibility

There are refineries in Georgia, North Dakota, and Montana that produce renewable fuel for airplanes, and Iowa Economic Development officials say of lawmakers create a tax credit for producing sustainable aviation fuel, Iowa may land a refinery.

Debi Durham–Iowa Economic Development Authority Director, said, “ there’s a market for many more around the country.  The Governor will reveal the specifics on tax related recommendations in January.  The State tax credit for research and development is critical but can be adjusted. Change is needed in the state’s 20yr. old High Quality Jobs Program.  It has provided tax breaks to Iowa businesses expanding their operations here and to out of state companies launching an Iowa location.  The program’s tax credits and exemptions were created to buy down Iowa corporate tax rate, which was among the highest in the country.”