DEMOCRATS IN THE IOWA HOUSE ARE RAISING CONCERNS ABOUT THE PENDING SALE OF A SOUTHEAST IOWA FERTILIZER PLANT. KOCH INDUSTRIES PLANS TO BUY THE IOWA FERTILIZER COMPANY NEAR WEVER FOR THREE-POINT-SIX BILLION DOLLARS.
REPRESENTATIVE J-D SCHOLTEN OF SIOUX CITY, SAYS FOUR COMPANIES ALREADY CONTROL 75 PERCENT OF THE NITROGEN FERTILIZER MARKET IN THE U-S.
FERT7 OC…….IN THE MARKET.” :16
IN 2012, THE STATE OF IOWA PROVIDED 112 MILLION DOLLARS IN TAX CREDITS AND LOANS FOR THE PROJECT. LEE COUNTY PROVIDED A 30 MILLION DOLLAR PROPERTY TAX ABATEMENT.
REPRESENTATIVE ELINOR LEVIN, A DEMOCRAT FROM IOWA CITY, SAYS STATE OFFICIALS NEED TO ENSURE KOCH MEETS THE TERMS FOR THOSE INCENTIVES.
FERT8 OC……HERE IN IOWA.” :15
SCHOLTEN SAYS THE OTHER CONCERN IS WHAT HAPPENS TO THE 260 IOWA FERTILIZER COMPANY EMPLOYEES.
FERT9 OC……BE THE SAME.” :15
KOCH’S ACQUISITION OF THE SOUTHEAST IOWA PLANT IS BEING REVIEWED BY FEDERAL ANTI-TRUST REGULATORS.
HOUSE DEMOCRATS HAVE SENT A LETTER TO THE U-S JUSTICE DEPARTMENT, THE FEDERAL TRADE COMMISSION AND IOWA ATTORNEY GENERAL BRENNA BIRD THAT OUTLINES CONCERNS ABOUT THE SALE.
KOCH INDUSTRIES ALREADY OPERATES A FERTILIZER PLANT IN FORT DODGE.
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