Hull, Iowa — An industrial location along the railroad tracks southwest of Hull may become a biodiesel plant. And if it does, over 30 jobs will be created.
ReadiFuels-Iowa, LLC, a newly-created entity started by Applied Research Associates, Inc. (ARA) and C&N Biofuels, LLC was given a $2.8 million grant by the Iowa Economic Development Authority Board on Friday.
The company plans to utilize a variety of feedstocks to produce approximately 34 million gallons of renewable diesel and renewable naphtha annually. If that happens, the facility will be the first facility of its kind in the state.
ReadiFuels-Iowa says they plan to construct a new production facility utilizing existing infrastructure at a partially-abandoned property near Hull. The location was going to be a Bison Renewable Energy biogas plant, but bankruptcy forced a sale of the site in 2012. The site is two miles west and a mile south of Hull, a half mile west of Highway 75, along the Burlington Northern Sante Fe Railroad tracks.
The Iowa Economic Development Authority (IEDA) Board awarded ReadiFuels-Iowa tax benefits from the High-Quality Jobs Program toward the $58.7 million capital investment. The IEDA says the project is expected to create 31 jobs, of which 27 are incentivized at a qualifying wage of at least $20.47 per hour.
