• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / Governor says interest is already there for biochemical tax credit

Governor says interest is already there for biochemical tax credit

May 4, 2016 By O. Kay Henderson

Governor Terry Branstad.

Governor Terry Branstad.

Governor Terry Branstad says companies already are expressing interest in the state’s new tax credit for firms that come up with new products made from the starches, sugars and oils left-over after ethanol and biodiesel are made.

“This credit sends the message that Iowa is truly open for business,” Branstad says. This “biochemical tax credit” is one of the 2016 legislature’s top accomplishments, according to Branstad.

“This is a very big deal and I’m excited about what it means for our state and how it positions us for the jobs of the future,” Branstad says. Experts say about 30 chemicals left over from biofuel production hold the greatest promise for household products as well as pharmaceuticals. Companies seeking this new tax credit will submit applications to the Iowa Economic Development Authority.

A total of $10 million in state tax credits will be awarded each year.

Share this:

  • Facebook
  • Twitter

Filed Under: News, Politics / Govt Tagged With: Legislature, Republican Party, Taxes, Terry Branstad

Featured Stories

Reynolds signs her ‘school choice’ bill into law

Governor Reynolds touts 2024 Iowa Caucuses in Inaugural Address

University of Iowa grad presiding over U.S. House Speaker vote

Iowan who was oldest person in the U.S. dies

Iowa Lottery to start making some payments via debit cards

TwitterFacebook
Tweets by RadioIowa

Iowa State names new receivers coach

No. 2 Iowa visits No. 1 Penn State in wrestling dual Friday night

Iowa’s Clark brings increased exposure to women’s basketball

No. 18 Iowa State women visit TCU

Northern Iowa men host Valparaiso

More Sports

Archives

Copyright © 2023 ยท Learfield News & Ag, LLC