For Immediate Release: Contact
Jeff Angelo
February 21, 2006 (515) 281-3371
Angelo Sponsors Bill to Help Bring
Ethanol Plant to Adams
County
Des
Moines – State Sen. Jeff
Angelo (R- Creston) said today that the Senate Economic Development Committee
has approved a bill he is sponsoring to help Adams County officials lure an
ethanol plant to the area.
Under the legislation, a
business that is located only partially in an enterprise zone would qualify for
the tax incentives available for that zone. Currently, the Iowa
Department of Economic Development has ruled that a business’ entire physical
location must be inside the zone to qualify for the benefits.
Angelo said that without the
change, state assistance would be restricted for the proposed “Pinnacle
Ethanol” plant in Adams
County. Current plans call for the proposed plant to
be located in an enterprise zone area; however, part of the plant would be
constructed outside of the designated enterprise zone acres.
Angelo said the plant would
bring needed jobs to the area. The Pinnacle
Ethanol plant would result in 40 new jobs and an almost $1.9 million payroll in
the county.
“The new jobs and revenue
generated by an ethanol plant would be a boost for the Southwest
Iowa economy,” said Angelo.
“This legislation provides some momentum for county leaders in the process of
bringing this plant to our area. By
allowing the plant to receive the full package of state benefits available, we
can better lure the plant and its jobs to the area.”
The legislation is now
eligible for debate by the entire Senate.
###
