During the next state legislative session, which begins in January, Iowa's Economic Development Agency will reportedly seek approximately $20 million in new incentives for companies that use chemicals derived from ethanol production to produce biobased products. The Agency reportedly believes sufficient incentives exist to promote biofuel development in Iowa. This new incentive would be needed to help further the biobased economy in the State. More information on this effort is available in The Des Moines Register news story "Biochem Tax Credit Pitched By Economic Agency."