Temple biodiesel firm welcomes $1.5M incentives, abatementsTemple biodiesel firm welcomes $1.5M incentives, abatementshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=48472014-02-24T14:48:00Z2014-02-24T00:00:00Z

TEMPLE - Thomas Biodiesel LLC will construct a 25,000-sf manufacturing facility on a seven-acre tract at the Temple Economic Development Corporation’s North Industrial Park in the coming months at 3111 and 3289 Eberhardt Rd.

In February, Temple City Council approved $1.5 million in incentives for the company — finalizing a deal that will bring 31 jobs and a $30 million biodiesel manufacturing plant to Temple.

The company will receive five property tax-free years and then see its tax abatement gradually reduced from 100 percent to 50 percent through five 10-percent annual reductions. Combined, the City of Temple estimates the company will save just shy of $1.5 million on the investment that Thomas Biodiesel has planned at the seven-acre site.

Thomas will manufacture biodiesel from waste cooking oils and other sources at the Temple plant. It is projected to generate 9 million gallons of biodiesel per year.

“With a design capacity of 9 million gallons per year of biodiesel, we are positioned to serve customers in this local market as well as the larger metroplex areas of Dallas, Fort Worth, Houston, Austin and San Antonio,” Thomas CEO Bill Burden said. “We are providing green jobs, and we are excited to partner with other progressive companies doing business here.”

Listen to Podcast 200 for this story and more. This story was updated February 24, 2014, from Podcast 200.

Killeen Daily Herald
http://kdhnews.com/news/biodiesel-manufacturing-facility-coming-to-temple/article_81557e56-768a-11e3-941f-0019bb30f31a.htmlRead more at {Source}

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