The Iowa Economic Development Authority (IEDA) Board awarded tax benefits to ReadiFuels-Iowa, LLC—a newly created entity started by Applied Research Associates, Inc. (ARA) and C&N Biofuels, LLC. The company will utilize a variety of feedstocks to produce approximately 34 million gallons of renewable diesel and renewable naphtha annually—the first facility of its kind in the state.
ReadiFuels-Iowa plans to construct a new production facility utilizing existing infrastructure at a partially abandoned property near Hull in Sioux County.
The board awarded the company tax benefits from the High Qaulity Jobs (HQJ) program for this $58.7-million capital investment. The project is expected to create 31 jobs, of which 27 are incented at a qualifying wage of at least $20.47 per hour.