by Green Plastics
News from the North Platte Bulletin:
The state of Nebraska is sending half a million dollars in Community Development Block Grant funds to the small town of Laurel.
The money will aid a local start-up company with infrastructure costs, according to a statement from Gov. Dave Heineman’s office Thursday.
Laurel BioComposite, the beneficiary of the CDBG, is a producer of bioplastic enhancer that will bring 20 jobs to town of under 2000 people.
“Nebraska’s biotechnology industry is growing and I’m pleased to congratulate everyone involved in this new start-up company,” Heineman said. “Creating new jobs opportunities in this and other growth-oriented industries is important for Nebraska’s economic development.”
In addition to CDBG funding, the city of Laurel will provide $340,000, and Laurel BioComposite will provide more than $18.3 million to help complete the project, for a total investment of more than $19 million. The project includes a $14 million facility used to turn distillers’ grain into plastic.
A second site planned for later development includes an ethanol plant utilizing fractionation technology to produce 50 million gallons of ethanol a year
Administered by the Nebraska Department of Economic Development, federal CDBG funds are made available to the state from the U.S. Department of Housing and Urban Development.