DuPont to repay $10.5M in state incentives to Iowa

November 18, 2018 |

In Iowa, economic development leaders for the state approved a settlement that requires DuPont to repay $10.5 million in state incentives that it received back in 2011 for its ethanol plant that they closed last year. The settlement is waiving $3.7 million of the incentives.

Last week, the Digest reported that VERBIO North America was acquiring the Iowa cellulosic ethanol facility from DuPont. VNA is investing $35 million and intends to install facilities to produce renewable natural gas (RNG) made from corn stover and other cellulosic crop residues at the site. This would be VERBIO’s third production facility devoted to this cellulosic technology

“The Iowa Economic Development Authority board agreed Friday to provide the company $1.78 million in tax credits,” according to the Des Moines Register. “Verbio proposes creating 44 jobs that pay close to $52,000 annually.”

 

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