Alltech moves forward with ethanol plant project

By | January 01, 2008
Alltech received approval from the Kentucky Economic Development Finance Authority for financial incentives that will go toward building a $40 million ethanol plant in Springfield, Ky. The $8 million incentive is based on a sales tax refund for building and equipment costs, a state income tax wage reduction for new employees and a credit against state income taxes. The company has also applied to the U.S. DOE for grant assistance and expects to get approval in February. The biorefinery will use up to 30 percent cellulosic feedstocks such as switchgrass, corn cobs and corn stover. It will also use the fiber left over from the corn-to-ethanol process to make additional products.