Schumer: Biogas tax credit would be boon for Batavia
By Jim Krencik
WASHINGTON — A proposed amendment to federal income tax credits announced by Sen. Charles Schumer this week would add byproducts from the dairy industry to a list of renewable energy sources encouraged by the program.
Schumer wants to make companies and farms building biogas plants like the Synergy Biogas project in Covington eligible for a 30 percent investment tax credit.
The Biogas Tax Credit’s six- and seven-figure savings would create jobs both at new plants spurred by the incentive, but also farms and dairy businesses that would then be able to increase production.
“Many biogas companies want to set up shop next to yogurt plants and dairy farms, and linking them to the upstate dairy industry will stimulate economic growth and jobs,” said Schumer, who pointed to the partnership between Synergy Farms and CH4 Biogas as the ideal beneficiary.
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