Iowa Gov. Terry Branstad on Monday, May 16 signed into law H.F. 2464, a multifaceted bill that secures funding for the state’s highly successful biodiesel and ethanol blender pump program, the Iowa Renewable Fuels Infrastructure Program, through June 30, 2017. Grant Menke, policy director for the Iowa Renewable Fuels Association, is pleased the legislation has now become law.
“We applaud Gov. Branstad and the Iowa Legislature for securing funding to keep the renewable fuels infrastructure program going for another year. While we remain focused on finding a long-term funding solution, this bill will allow us to continue to build upon the momentum that was sparked by the USDA’s Biofuels Infrastructure Partnership program, and ensure that Iowans have greater access to lower cost, locally-produced renewable fuels blends.”
More Iowa fuel retailers are interested in offering higher blends
The IRFA recently reported interest amongst Iowa retailers in offering renewable fuels is at an all-time high. The most recent Iowa Renewable Fuels Infrastructure Board meeting set records by awarding 68 projects with $3.2 million in state grants to upgrade infrastructure to offer higher blends of ethanol and biodiesel. With today’s signing, the Iowa Renewable Fuels Infrastructure Program has secured funding through the state’s next fiscal year, ending June 30, 2017.
The Iowa Renewable Fuels Infrastructure Program offers cost-share grants to Iowa retailers wishing to upgrade their pumps and other fueling infrastructure to offer registered E15, E85 and/or biodiesel blends. Reimbursement through the program can be up to 70% of the installation costs, up to a maximum of $50,000 per project, with a five-year commitment to sell registered E15, E85 or biodiesel blends. For more information on the program, please click here.
Iowa renewable fuels industry is very important to state’s economy
According to a recent IRFA study, Iowa’s renewable fuels industry accounts for more than $4.6 billion of Iowa GDP, generates $2.3 billion in income for Iowa households and supports more than 43,000 jobs throughout all sectors of the Iowa economy.
Iowa is the nation’s leader in renewable fuels production. Iowa has 43 ethanol refineries capable of producing 4 billion gallons annually, including nearly 55 million gallons of annual cellulosic ethanol production capacity. In addition, Iowa has 12 biodiesel facilities with the capacity to produce nearly 315 million gallons annually.
The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s liquid renewable fuels industry. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development. For more information visit the Iowa Renewable Fuels website at IowaRFA.org.