Missouri governor releases final biodiesel subsidies
JEFFERSON CITY, Mo. – Missouri Gov. Eric Greitens is releasing funding for biodiesel facilities that he had withheld because of concerns that state revenues could fall short of what’s needed to balance the budget.
The $4 million announced Thursday is the final amount necessary to pay off a backlog of subsidies called for under a 2002 state law that provided incentives for biodiesel plants that began operating by 2009. Biodiesel fuel often is made from soybeans, though other ingredients can be used.
Members of the soybean industry said Thursday that the incentives helped launch the industry. Federal statistics show Missouri ranks third among states in biodiesel production.
Lawmakers had included the biodiesel payments in the budget for several years, but they were delayed as governors cited revenue shortfalls.