Federal stimulus funds available for Ohio Biofuel companies

Posted By on October 27, 2010

arrasignohioFederal stimulus funds are political hot potato as the Novemeber 2010 election draws near, but it is still good to know where the money is being spent. According to Biodiesel Magazine,  the Ohio Department of Development will be using "$8 million in funding from the American Recovery and Reinvestment Act, to help biodiesel and ethanol companies fund new or additional refining equipment." The $8 million is being awarded to applicants in amounts from $500,000 up to $1,000,000 in order to make Ohio a leading biofuels producer her in the U.S. The state of Ohio received a total of $96 million in total from the ARRA State Energy Program.

Interested applicants must reside in the state of Ohio and be able to invest at least 25% of the total equipment cost. The project must also be completed with 12 months and provide a direct economic benefit to Ohio. AboveGroundTankSMAccording to the article, "applicants will be judged on four categories: project readiness, financial ability to meet the 25 percent requirement, economic/ employment impacts on Ohio and possible job creation and retention during construction phases." Perhaps a group like CinciTDI should initiate a business venture to produce and distribute biodiesel like BioWillie?
Winking smile

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  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.