ALL Fuels & Energy announced that its subsidiary, ALL Energy Manchester, signed the final agreement required for a $10.4 million sales and tax credit. The company stated that the tax credits are in support of its proposed 100 million gallon per year ethanol production facility.
Dean Sukowatey, President of AFSE, commented, “Once the plant is operational, this agreement with the Iowa Department of Economic Development and our agreement with the City of Manchester will bring our company over $17 million in economic benefits that will fall straight to our bottom line. We continue to find that the State of Iowa and the City of Manchester are great partners on the Manchester project.”
To date, the company received about $6.6 million in infrastructure improvements and property tax abatements from the City of Manchester, in addition to incentives given by the Iowa Department of Economic Development. The city will provide the Subsidiary with sewer service, roadway improvements to the facility and a 10-year property tax abatement.
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