Owner of Massena's Curran Renewable Energy praises bill to give tax credit for biofuel production
A Massena-based renewable energy business owner is praising a bill passed by the state Assembly that allows tax credits for biofuel production.
The legislation gives credit of $0.25 per gallon on cellulosic ethanol or renewable fuel oil produced and provides a new credit of $15 per ton of densified biofuel.“This bill is a strong step forward in enhancing the business climate of the St. Lawrence Valley and counties throughout New York State. It will give land owners an opportunity to see value in their low-grade timber crops that they have been growing," Pat Curran of Curran Renewable Energy said. His company makes wood pellets that can be burned for heat. "The tax bill … will help job growth in numerous ways beyond the agricultural and forest sectors. It will help create stability and a bright future in an evolving market.”
The bill was supported by Assemblywoman Addie Russell, her office said in a news release.
“We already have companies in the North Country producing these kinds of products that will be able to expand and create jobs as the market grows,” Russell said. “This legislation is the boost needed to help this innovative domestic industry compete against traditional fossil fuels.”
She represents the 116th District, the so-called "River District." It covers all municipalities along the St. Lawrence Seaway from Massena to Hammond and includes Canton and Potsdam.