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"If we invest now in biodiesel and ethanol, within 10 years, we'll
be able to produce enough energy from our own natural resources to
cut our dependence on foreign energy in half," Blagojevich said.
"That means billions of our hard-earned dollars will stay here at
home, in our economy, creating more jobs, rather than leaving
Illinois forever. We have the resources. We have the technology. We
have the expertise. And if we start today, we can solve this problem
in the next 10 years. No other state can say that. And the federal
government hasn't even conceived of that yet. But we can do it here
in Illinois, and Stepan is going to help us do just that." Current
production at the facility is about 19 million gallons per year, and
this expansion will bring production to 49 million gallons per year.
The project will create six to eight new jobs. In addition to the
biodiesel fuel produced, the plant will use about 35 million bushels
of soybeans as oil annually.
"The proposed plant will provide capacity to supply a part of the
new demand in Illinois and help our country and state reduce its
dependence on foreign energy," said F. Quinn Stepan Jr., president
and chief executive officer of Stepan Company. "We appreciate the
vision and support of Governor Blagojevich. He is getting the job
done on renewable fuels."
This tour followed the governor's recent announcement of his
energy independence plan to replace 50 percent of the state's
current supply of imported oil with renewable homegrown biofuels
like ethanol and biodiesel.
The governor proposes investing $100 million over the next five
years to build up to 20 new ethanol plants across Illinois. The
additional ethanol production would generate an estimated $1.7
billion in business investment. The governor also proposes investing
an additional $100 million over the next 10 years to build four
plants in downstate Illinois using new technology to create ethanol
made from plant waste materials like corn husks and wood pulp -- "cellulosic
ethanol." This means boosting the state's annual ethanol production
by more than 200 percent and meeting 50 percent of gasoline needs by
2017. And, the governor's plan would invest $25 million to help
build five new biodiesel plants, boosting the state's production by
200 percent to 400 million gallons per year, or the equivalent of 25
percent of the state's annual diesel fuel needs by 2017. This
additional biodiesel production will generate another $225 million
in business investment in Illinois. This plan would create almost
20,000 construction jobs and 10,000 permanent jobs.
"We have a tremendous opportunity to become less dependent on
foreign oil by promoting more efficient, renewable fuels made in
Illinois," said state Sen. Arthur "AJ" Wilhelmi, D-Crest Hill. "The
investment Governor Blagojevich is making in Stepan will help us
reach that goal while creating more good jobs, supporting our
farmers and protecting our environment."
"I strongly believe that the key to lessening our dependence on
foreign oil is to start producing renewable fuels right here in Will
County," said state Rep. Careen Gordon, D-Coal City. "I am very
proud to support the Stepan Company as it continues to help make
Illinois the national leader in the biodiesel market. This is a wise
investment in our economy that will protect our environment and
position us for a more secure future."
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 "By investing in innovative, environmentally friendly companies
that are investing in Illinois, Governor Blagojevich is creating a
business climate that is putting more people to work," said state
Rep. Jack McGuire, D-Joliet. "We must reduce our addiction to
foreign oil, and this is an important step in the right direction."
"Governor Blagojevich is committed to leading the way for
biodiesel by creating the largest biodiesel market in the nation
here in Illinois," said Will County Executive Larry Walsh. "Through
the complete state sales tax exemption for B-11, and through his
support of production facilities like this one, he is certainly
succeeding."
"There is nothing more important than increasing our energy
independence right here at home," said Tom White, president of
Will-Grundy Buildings and Trades and business manager of Teamsters
Local 179. "We are proud to partner with Stepan and Governor
Blagojevich to help make this expansion a reality."
"This is a great day for Will County," said Tom Dardis, executive
director of the Three Rivers Construction Alliance. "Stepan and
Governor Blagojevich are helping us become less reliant on foreign
energy and more dependent on our homegrown resources, which is
creating good new union jobs."
"We must always be looking at ways to create more jobs in ways
that protect also our environment," said Jim Buchanan, business
manager for Local 597 of the United Association of Plumbers and
Pipefitters. "That is what producing biodiesel is all about. We are
very pleased to be working with Stepan and the governor on this
important project."
"Stepan is proving that we have the ability here in Illinois to
import less foreign oil, while putting more people to work," said
Dave Udsteun, business manager for Local 176 of the International
Brotherhood of Electrical Workers. "Governor Blagojevich and our
members strongly believe that is what smart economic development is
all about."
In June of 2003, Blagojevich signed into law a complete state
sales tax exemption for biodiesel blends of 11 percent or higher, as
well as for the high-ethanol blend known as E-85. When diesel fuel
costs $3 per gallon, the value of the exemption, at 6.25 percent, is
18.75 cents per gallon. Consumers have saved more than $200 million
as a result of these exemptions on B-11 and E-85 since 2003. This
valuable tax exemption has multiplied the size of the biodiesel
market since 2003, making it 30 times larger than before. This
demand is now creating the demand for new ethanol and biodiesel
plants.
"Governor Blagojevich understands that the answers to solving our
energy crisis will never be imported, but must be created here at
home," said Jack Lavin, director of the Department of Commerce and
Economic Opportunity. "The Stepan Company is making another
significant private investment in expanding this biodiesel plant,
which is going to create new jobs and to continue demonstrating why
expanding the markets for renewable fuels is so important."
[News release] |
