Alltech to build the first rural community bio refinery
Alltech, an international biotechnology company based in Nicholasville, was awarded the first incentives package under Kentucky's new Incentives for Energy Independence Act (IEIA) to build a 10-million gallon, self-sustaining rural community bio refinery in Springfield, Ky.
"This project and technology could have far reaching implications, not just for the state but for the country as a whole," said Dr. Pearse Lyons, president and founder of Alltech. "Alltech is committed to the future of agriculture and making Kentucky a national leader in that area, and this incentive represents a big step toward making that happen.
The $40 million project will receive $8 million in incentives based on a sales tax refund for building and equipment costs