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Missouri biodiesel plants get $4 million in past-due state payments

Missouri Governor Eric Greitens announced the release Thursday of $4 million in funds meant for Missouri biodiesel plants.  The money was in arears after several years of the state’s general revenue fund running short, resulting in the state issuing I-O-Us to the plants.  Governor Greitens credited the plants with helping the state’s farm economy.

“Missouri is the second largest biodiesel producer in the country,” Governor Grietens told the audience, gathered in a garden near the Governor’s Mansion.  “Their work has helped to support over 2,500 jobs.”

Missouri soybean grower Warren Stemme of Chesterfield, in eastern Missouri, says the legislature approved the annual support for the plants many years ago, and while some of the money was paid, some went unpaid to be carried over each year.

“Most of the plants here in Missouri are owed part of this debt that was unpaid, so that will be distributed to each plant,” said Stemme, adding that the funds announced Thursday will help the plants, more than half of which are owned by farmer investors.

Depending on bookkeeping methods, some plants have already paid taxes on the funds that are just now being paid.

AUDIO: Governor Eric Greitens (11 min. MP3)

AUDIO: Warren Stemme (5 min. MP3)