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Proposed Subsidies for Producer of Green Energy

The Industrial Development Agency (IDA) is proposing to offer $5 million of incentives (tax-exempt bonds and property, sales, and mortgage recording tax breaks) to Tri-State Biodiesel, LLC to construct a biodiesel production facility in the Gowanus Industrial Park in Red Hook, Brooklyn.  It would be the city’s first manufacturing facility for biodiesel, a clean-burning gasoline substitute made with recycled cooking oil. Biodiesel runs inside any diesel engine and can be made from several different feed stocks such as soybeans or peanuts.  All of the fuel at Tri-State's facility will be made from restaurant grease from over 1,500 New York City restaurants.

Read the IDA's description and cost-benefit analysis of the project.  Read the entire project materials, including the Tri-State Biodiesel's application for subsidies.