IMPERIAL â€“ This past June, California Ethanol & Power (CE&P), LLC was awarded a $3.1 million income tax credit as part of the California Competes program, administered by the Governorâ€™s Office of Business and Economic Development (GO-Biz).
CE&P was selected as one of 31 companies recommended to the California Competes Tax Credit Committee from a highly competitive pool of almost 400 applicants.
The California Competes program is designed to encourage businesses to expand or relocate their business in California in an effort to generate new jobs and stimulate economic development. Once operational, CE&P will have a work force of more than 220 within the facility and an additional 150, working in agriculture and transportation.
Currently, they are completing the development of a series of plants in the Imperial Valley that will convert 40,000 acres of sugarcane and 30,000 acres of sweet sorghum into 66 million gallons of low-carbon fuelgrade ethanol per year, 50 megawatts of renewable electricity, and 930 million cubic feet of bio-methane, all for sale in California.
â€œCE&P will promote green energy and bring quality, permanent jobs to Imperial County and the surrounding communities. This will have a substantial positive impact on the Imperial Valley economy, which currently holds the highest unemployment and lowest economic health rates in the U.S.,â€ said Senator Hueso.
â€œAs the Senator representing the Imperial Valley, I feel a strong sense of pride knowing that CE&P will help hundreds of Imperial Valley residents get back to work. Congratulations to CE&P for being California Competes 2014 award recipient.â€
Senator Hueso will unveil this award and be joined by Imperial County Board of Supervisor Ray Castillo, IID Board of Director Steve Benson, and Dave Rubenstein-CEO of California Ethanol and Power.