WELLSVILLE — “Baard Energy has more time to use $4.5 million in state funds to further its plan to build a coal-to-liquid fuel plant near Wellsville.
Bethany Close, a spokeswoman for the Ohio Department of Development, said this week that Baard’s deadline has been extended to Sept. 30.
The state had granted a loan extension Nov. 5, 2009, that lasted until June 30 of this year.
The state’s controlling board in May 2009 approved funding for the project as a forgivable loan to help buy and prepare land at the 525-acre site near Wellsville.
But the development of the project was slowed by the poor economy and court challenges. The extension also will give the project more time to line up private investors for the facility that is expected to cost $6 billion.
State Rep. Linda Bolon of Columbiana, D-1st, and Tracy Drake, chief executive officer of the Columbiana County Port Authority, had been asking state officials for the extension.”
— D. A. Wilkinson, Youngstown Vindicator
Loan extension could bring 200 jobs to Columbiana County, WFMJ.
The loan would be to the Columbiana County Port Authority, not Baard Energy, and the 200 jobs would not be created unless the Port Authority accepted the loan money. Port Authority CEO Tracy Drake has said he would not ask for the State loan money unless Baard Energy finds investors for the project. Otherwise, the Port would be on the hook for paying back the loan.
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