Gov. Jay Nixon has delivered on his promise to support ethanol in the Show-Me State. Nixon signed House Bill 6 last week, which contains $12.5 million for Fiscal Year 2010 for the Missouri Qualified Fuel Ethanol Producer Incentive Fund. He also approved $10.4 million in House Bill 22 to meet ethanol incentive fund needs for FY 2011.
"Gov. Nixon put pen to paper and demonstrated his commitment to Missouri farm families and locally owned ethanol production," said Mike Geske, Missouri Corn Growers Association president. "The ethanol incentive funds contained in House Bills 6 and 22 will reverberate through our local economies, planting seeds for growth over the next two years."
MCGA also applauded efforts of House and Senate leaders to appropriate the necessary funds to complete the state's obligation to the farmer owners of Missouri's ethanol biorefineries through House Bill 22. "While we are disappointed by the FY 2012 and 2013 funding cuts, we know these are extremely tough times," Geske added. "MCGA appreciates Gov. Nixon going beyond his promise of full funding for FY 2010 and his leadership in keeping Missouri's agricultural community on solid ground.
"Today's economic constraints are impacting businesses and industries across the nation and the ethanol industry is no exception. Biorefining plants across the country are still reeling from volatile commodity markets, falling gasoline demand and a lockdown of available credit. Taking advantage of the situation, the oil industry has recently moved in to acquire ethanol plants in other states for dimes on the dollar."
Geske said the governor's actions demonstrate the importance of keeping Missouri's limited refining capacity in the farmer's hands. "We thank Gov. Nixon for his resolute support of Missouri's corn and ethanol industries."
Source: Missouri Corn Growers Association