Iowa Gov. Terry Branstad (R) signed legislation yesterday that will offer new tax incentives for renewable chemical production in his state.
The passage of S.F. 2300 makes Iowa the first state to offer tax credits to companies that produce biochemicals. It’s a strategic move for a state that is aiming to position itself early as a leading producer of biochemicals nationally.
Expanding chemical production makes sense for Iowa, since it is already a top renewable energy producer of both ethanol and soy-based biodiesel, Branstad told ClimateWire.
