Kentucky is incentivizing agribusinesses in the state to develop ways to make new products out of renewable diesel or biodiesel through the state’s newly launched Renewable Chemical Production Program, according to an article from the Murray Ledger & Times. The new program reportedly encourages the production of more than 30 chemicals derived from biomass feedstocks.
According to the article, the program addresses a unique opportunity to advance Kentucky’s economy by using biomass feedstocks to produce environmentally sustainable products. Eligible companies reportedly can receive tax credits for their capital investment, job creation and renewable chemical production. A bill passed by the Kentucky legislature in 2020 states that, for the tax credit, “eligible renewable chemicals are limited to building block chemicals with a bio-based content percentage of at least 50%, except for chemicals sold or used for the production of food, feed or fuel.”
Read the entire article here.
