What's Happening?
Wisconsin lawmakers have proposed tax incentives to attract a wood pulp plant to northern Wisconsin, which would produce fuel for aircraft. The plant, eyed for a site in Hayward, would help fill the gap left by the closure of the Verso paper mill in Wisconsin Rapids. The project involves a partnership with Synthec Fuels and Johnson Timber, aiming to meet increasing demand for Sustainable Aviation Fuel (SAF) in the EU. The legislation includes $60 million in tax credits and a $150 million grant, with the plant expected to create 150 jobs.
Why It's Important?
The proposed wood pulp plant represents a significant opportunity for economic revitalization in northern Wisconsin, particularly in the wake of declining paper mill operations. By producing SAF, the plant aligns with global efforts to reduce carbon emissions and promote sustainable energy sources. The project could boost local employment and diversify the regional economy, which has been heavily reliant on tourism. The initiative also reflects broader trends in renewable energy and sustainable industry practices, positioning Wisconsin as a leader in green innovation.
