What have biodiesel plants done for the City of Erie?

Posted in the Erie Forum

anonymous

Houston, TX

#1 Apr 22, 2012
5 years later. Millions spent by the city and state. State sign taken down read 274 jobs were to be created? Parking lots empty. Where are all those jobs that were supposed to be created in Erie?

Another big white elephant?
anonymous

Spring, TX

#2 Apr 24, 2012
AND ANOTHER BIODIESEL PRODUCER FILES BANKRUPTCY

Central Indiana biodiesel producer files for bankruptcy
Scott OlsonApril 11, 2012Keywords Alternative energy, Biodiesel, Energy & Environment, Environmentally friendly, Fuel, Manufacturing & Technology, Transportation, Distribution & Logistics
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A biodiesel producer located east of Anderson has declared bankruptcy, citing $17.3 million in debts.

E-biofuels LLC in Middletown filed for Chapter 7 liquidation on April 4. The company lists $11.4 million in assets consisting of equipment and property.

Secured liabilities include loans in the amount of $7.4 million from First Merchants Bank in Muncie,$3 million from Ultra Green Energy Services in Chicago and $1.5 million from Ciena Capital LLC in Greenville, S.C.

E-biofuels began operating in 2007 and had the capacity to produce 10 million gallons of biodiesel per year, according to the Indiana Department of Agriculture.

Whether the company ever came close to producing that amount is unclear. A federal lawsuit filed in 2008 against E-biofuels by Houston-based Vinmar Overseas Ltd. suggests it didn't.

A federal judge ordered E-biofuels to pay Vinmar $930,546 for its claim that E-biofuels failed to supply it 500,000 gallons of biodiesel. E-biofuels paid off the judgment in 2011, the bankruptcy filing said.

Biodiesel is a renewable fuel manufactured from vegetable oils, animal fats or recycled restaurant greases. It can be used as a diesel fuel or mixed with regular diesel to be used in diesel vehicles.

Indiana has four remaining biodiesel plants, in Kosciusko, Lake, LaPorte and Shelby counties, that together are capable of producing more than 100 million gallons of the fuel annually.

Including the E-biofuels plant, the five biodiesel facilities were expected to create 620 jobs in the state, according to the Department of Agriculture.

E-biofuels is owned by Evansville-based Imperial Petroleum Inc, whose subsidiaries include Arrakis Oil Recovery LLC and Ridgepointe Mining Co. Shares of the thinly traded public company are fetching 9 cents each.
TaxNoMore

Pasadena, CA

#3 Apr 24, 2012
What have biodiesel plants done for the City of Erie?

Nut-N-Honey
snag

Fairview, PA

#4 Apr 24, 2012
HORN-YA-MAN supported more tax dollars for bio-fuel in Erie,glad he is leaving office so we don't have a jug head in there!
anonymous

Spring, TX

#5 Apr 24, 2012
Didn't Sinnot provide grants to the biodiesel companies in Erie after they lost there tax credit?
opie

Erie, PA

#6 Apr 24, 2012
anonymous wrote:
Didn't Sinnot provide grants to the biodiesel companies in Erie after they lost there tax credit?
Talk to MN the other day. got the low down, not JB, but another flunky that got fired can't even remember the name
Stu Pedaso

Erie, PA

#7 Apr 24, 2012
Democrat policies at work. No jobs and more tax money flushed away. Being a democrat is a mental disorder.
anonymous

Houston, TX

#8 Apr 25, 2012
What kind of due diligence was done by the City of Erie and the state before they funded these grants?

Can the taxpayer get a tax credit for this white elephant?

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