Home KSCJ News SCHOLTEN RAISES CONCERNS OVER FERTILIZER PLANT PROPOSED SALE

SCHOLTEN RAISES CONCERNS OVER FERTILIZER PLANT PROPOSED SALE

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 (SHOAL-TUN) OF SIOUX CITY, SAYS FOUR COMPANIES ALREADY CONTROL 75 PERCENT OF THE NITROGEN FERTILIZER MARKET IN THE U-S.

https://kscj.com/wp-content/uploads/2024/02/FERT7.mp3

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.

https://kscj.com/wp-content/uploads/2024/02/FERT8.mp3

FERT8 OC……HERE IN IOWA.” :15

SCHOLTEN SAYS THE OTHER CONCERN IS WHAT HAPPENS TO THE 260 IOWA FERTILIZER COMPANY EMPLOYEES.

https://kscj.com/wp-content/uploads/2024/02/FERT9.mp3

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.

Radio Iowa

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