Ohio to offer $8M in subsidies for ethanol, biodiesel

Ohio is preparing to dole out $8 million to boost manufacturers by subsidizing ethanol and biodiesel refining equipment purchases.

The Ohio Department of Development’s Energy Resources Division is accepting applications for the funding, the fifth round of proposals from the state funded by the American Recovery and Reinvestment Act. It is part of $96 million for energy projects allocated to Ohio through the stimulus.

Under the Advancing Biofuels Beyond the Basics program, companies can snag $500,000 to $1 million for buying equipment that increases second-generation ethanol refining capacity or biodiesel production for facilities located in Ohio. Companies must pay a minimum of 25 percent of the cost, complete the project within a year and provide direct economic impacts in Ohio.

State officials say the goal is to build market demand for Ohio manufacturers and distributors of ethanol and bio-diesel components.

Awards will be made on a competitive basis.

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source: dayton.bizjournals