Sunday, December 07, 2014

80 percent federal loan guarantees available for Asian carp processing plant? It can happen!

Illinois River at Peoria Heights
Yes month the small southern Illinois town of Grafton closed a recently-opened Asian carp processing plant that stunk, despite promises that the "green" operation wouldn't smell.

Further up downstate in Pekin, the hometown of legendary US Sen. Everett M. Dirksen--more on him in a bit, is considering having an Asian carp plant open up there.

From the Pekin Times:
Pekin City Manager Darin Girdler said that the city has had several inquiries by companies considering an Asian carp processing center in Pekin. He said the City Council will decide at its Monday meeting if it wants the University of Illinois to conduct a market/feasibility study to determine the viability of such a venture. The cost of such a study would be $8,000.

Girdler said the city may approach other municipalities to see if others want to share in the study.

The benefit of the study is that it could make the city eligible to get loans through the U.S. Department of Agriculture that would guarantee loans at 80 percent. So, if the city opted to loan money for the construction of a facility, the city loan would be partially guaranteed.
If Pekin wants to let the fish swim in, they shouldn't have federal taxpayers shoulder most of the risk. I get it, Asian carp is an invasive species, but what does that mean to a family in Arizona struggling just to get by?

As for Pekin's famous son, Dirksen once reportedly said, "A billion here, a billion there, and pretty soon you're talking real money."

Even if it's not a billion, it's still real money.

Related posts:

(Photos) The Chicago Sanitary and Ship Canal: The most hated body of water in America

"Green" but smelly Illinois Asian carp processing plant closes

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