South Dakota Governor calls for 2-cent biodiesel tax break; will 2 cents cut it?
In South Dakota, Gov. Mike Rounds called for a 2 cent-per-gallon tax break for biodiesel fuel, saying that the proposed tax break would stimulate the biodiesel industry in the same way a tax package helped spur the South Dakota ethanol industry.
South Dakota has been known more as an ethanol state than for biodiesel. However, South Dakota State University has received $26 million from the US Department of Energy for research on biofuels in general. The North Central Sun Grant Center will coordinate the program. The program covers biofuels education, outreach, feedstock assessment and feedstock development. The North Central Sun Grant Center will coordinate the efforts across all of the six Sun Grant Centers nationwide.
South Dakota Oilseed Producers recently announced that they plan to construct a soybean crush plant near Miller. Company executives said that the company raised $8.5 million in equity financing for the $19 million project.
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