Missouri Corn Merchandising Council to provide co-financing for BIP applicants

In Missouri, Missouri Corn Merchandising Council (MCMC) is stepping up to strengthen the Missouri Agricultural and Small Business Development Authority (MASBDA) Biofuel Infrastructure Program (BIP) for transportation and fuel facilities. In conjunction with recently announced federal and state programs, Missouri’s corn checkoff will provide matching funds to increase the availability of higher ethanol blends in the state.

To qualify, fuel retailers must first be approved for the USDA Rural Development’s Higher Blends Infrastructure Incentive Program (HBIIP), followed by approval of the MASBDA BIP program. The state BIP program has dedicated up to $2 million in grant funds that may be used to fulfill up to 25 percent of the cash match obligation required for the HBIIP. The maximum MASBDA grant award is $200,000 for each business entity selected for funding by HBIIP. MCMC will then match the grant funds up to a total of $500,000 statewide to increase access to ethanol blends above 10 percent.