AGP gets OK for vegetable oil plant
SIOUX CITY (AP) – State and local Iowa officials have approved $3.1 million in incentives for an Omaha, Nebraska soybean processor to build a $90 million vegetable oil refinery in northwestern Iowa.
An agreement approved on Dec. 19 by the Woodbury County board will exempt Ag Processing Inc., of Omaha, from $2.1 million in county property taxes through 2024.
At a separate meeting in Des Moines, the Iowa Economic Development Authority Board approved another $1 million in loans and state tax credits for the project at AGP’s complex near Sergeant Bluff.
The vegetable oil refinery will be designed for 30 rail tank cars per day.
Estimated project costs include $2.5 million for site preparation, $14.5 million for construction and $71.5 million for new machinery and equipment.
Please Enter Your Facebook App ID. Required for FB Comments. Click here for FB Comments Settings page