SUPERIOR - Governor Jim Doyle today toured Elkhorn Industries in Superior, a company that could benefit from his $450 million public/private investment strategy in renewable energy. The Governor’s proposal, including nearly $80 million from the state, will be included in his budget next year as part of a broad effort to make Wisconsin the nation’s leader in energy independence and create 17,000 jobs in our state.
“Here in Wisconsin, we’re doing our part and setting an example for the nation in energy independence,” Governor Doyle said. “This new state funding will encourage innovative new energy technologies across our state that will help the nation kick its addiction to oil. As I’ve always said, when it comes to our energy future, we should be more dependent on the Midwest, and less dependent on the Mideast.”
The Governor toured Elkhorn Industries, which is currently looking to expand operations to include generating energy from various waste products and develop an eco-industrial park on its existing site. One project Elkhorn is proposing is developing a gasification system to turn waste from forest harvesting, forest products manufacturing, and grain shipping into energy to power their operations. Elkhorn’s project to produce renewable fuels could create 220 new high end jobs in Superior. This is exactly the type of project the Governor intends to support with his budget proposal.
Governor Doyle’s plan includes:
- Wisconsin Energy Independence Fund. The fund will make $50 million in loan guarantees and low interest loans available to Wisconsin businesses looking to expand production and use of renewable fuels and energy. This investment will leverage over $100 million in private sector support. Leaders from agriculture and forest industries, private utilities and academic institutions will oversee the administration of the fund, facilitating economic development in biopower, biofuels and bioproducts. This will help achieve Governor Doyle’s goal of generating 25 percent of the state’s electricity and 25 percent of transportation fuel from renewable fuels by 2025. It will also focus on capturing 10 percent of the market share for the production of renewable energy sources by 2030.
- Wisconsin Energy Independence Tax Incentives. Tax credits will be available for gas stations to invest in E-85 and biodiesel tanks and pumps – increasing the availability of E-85 in the state by an additional 400 pumps. Businesses with private fleets will have tax credits available to them for increasing the use of biofuels in their fleets. In addition, angel and venture capital investors will be able to access incentives through Act 255 to further renewable technology.
- Wisconsin Energy Independence Grant Program. $20 million in grants will be available for companies and researchers that are developing new technologies to increase renewable fuels, speeding the commercialization of new renewable fuel and energy technologies and leading the way to energy independence. This investment will leverage $240 million from private investors.
One $5 million grant will be earmarked to bring the first cellulosic ethanol manufacturer to Wisconsin. Building the first plant of its kind in the nation will spur production of ethanol from woody forest and timber materials and meet the state’s goal of becoming the first state in the nation to produce ethanol from cellulose.
In July, Governor Doyle launched Wisconsin’s “Declaration of Energy Independence,” setting three broad goals for the state:
- To generate 25 percent of our electricity and 25 percent of our transportation fuel from renewable fuels by 2025.
- To capture 10 percent of the market share for the production of renewable energy sources by 2030, helping America kick its addiction to foreign fossil fuels and bringing tens of thousands of new jobs to our citizens. Achieving this goal would bring $13.5 billion annually to Wisconsin’s economy by 2030.
- To become a national leader in groundbreaking research that will make alternative energies more affordable and available to all – and to turn those discoveries into new, high paying jobs right here in Wisconsin.
The Governor has outlined a bold strategy for achieving the goals of the Declaration, including investments in ethanol and moving at least three UW campuses completely “off the grid” in the next five years. Today’s announcement is part of this overall effort.
