Impending verdict on Algenol’s biofuel production utility
In Florida, the fate of Algenol’s future biofuel production facility is in the hands of Lee County officials.
Close to receiving the three votes needed for the construction of a $10 million (€7.2 million) research lab, new corporate headquarters and a production utility in Lee County, not everyone appears to be on board.
With the money being taken from the county’s $25 million economic development reserve fund, executive director of the Fort Myers Regional Partnership / Lee Economic Development Office Jim Moore disagrees.
He explains that using this money to finance a biofuel production facility is not what the reserve fund was created for. Moore says that the $25 million was put to one side for job creation only, not capital investment.
However, a minimum of 120 jobs would be created immediately with hundreds more in the future, according the Paul Woods, chief operating officer at Algenol.
Algenol aims to produce economical ethanol, butanol and other chemicals from algae.
The jobs would range from locals being hired to work on the algae in the fields, to more advanced, specialised jobs.
Close to receiving the three votes needed for the construction of a $10 million (€7.2 million) research lab, new corporate headquarters and a production utility in Lee County, not everyone appears to be on board.
With the money being taken from the county’s $25 million economic development reserve fund, executive director of the Fort Myers Regional Partnership / Lee Economic Development Office Jim Moore disagrees.
He explains that using this money to finance a biofuel production facility is not what the reserve fund was created for. Moore says that the $25 million was put to one side for job creation only, not capital investment.
However, a minimum of 120 jobs would be created immediately with hundreds more in the future, according the Paul Woods, chief operating officer at Algenol.
Algenol aims to produce economical ethanol, butanol and other chemicals from algae.
The jobs would range from locals being hired to work on the algae in the fields, to more advanced, specialised jobs.
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