$91 Million Taxpayer Dollars to Fund Louisiana Biofuel Plant
- Cole Avery, October 3, 2014, The Times-Picayune
[[{"type":"media","view_mode":"media_large","fid":"296","attributes":{"alt":"","class":"media-image","height":"346","style":"width: 347px; height: 346px; margin: 3px 10px; float: left;","width":"347"}}]]Tom Vilsack, the secretary of the U.S. Department of Agriculture, announced a $91 million loan guarantee from the federal government to help build a biomass fuel plant in Louisiana.
Vilsack traveled to Baton Rouge on Friday to make the announcement. He said the plant could have a "profound impact" on agriculture in America.
The plant is being built by Cool Energy in Alexandria. It under construction and is expected to be complete in 2015 with production to begin in 2016. The plant will produce an expected 150-175 direct or indirect jobs.
"This is going to provide a new market opportunity for pine chips and other renewable forest material, which will help the forestry industry in the state," Vilsack said. "This biochar soil nutrient they're able to produce is really remarkable opportunity for us not only to learn from your experience but to take this and extend the notion of biochar."