Minnesota agriculture groups invest in biofuels
Millions of dollars are being invested in biofuels to support farmers and more in 2021
MANKATO, Minn. (KEYC) — Corn is an essential part of the southern Minnesota economy.
It has become increasingly more important after a successful year of corn prices in 2020.
The Minnesota Corn Research and Promotion Council and Minnesota Corn Growers Association have committed $1 million towards the future of biofuels through an infrastructure grant program.
Gov. Tim Walz acknowledged the importance of biofuels and their future in Minnesota.
“This is a bipartisan issue. For many of us this is something that we have been working on for decades,” Walz said in a press conference. “I am so incredibly proud of the innovation that has created this new industry it does everything that you have heard from these speakers. It brings us together like nothing else.”
The governor has also recommended an additional $2 million for the infrastructure of the biofuels program for the state.
The push for cleaner more reliable energy isn’t new, but the investment is something that farmers in southern Minnesota see as a reassurance of the work that they are doing for the area.
Tim Waibel, president of the Minnesota Corn Growers Association, says that this extra boost for farmers will also be a boost for the community.
“If we could make an extra $5 or $10 an acre by having a stepped-up standard of 10-15% in ethanol, that is going to relay into the farm and what we spend in our communities,” Waibel said. “What we spend when purchasing additional land, keeping the values of that land up.”
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