June 6, 2109: Lebow-Bakken Midstream complete Series A funding.
Tax incentives? See this story at The Bismarck Tribune.
A bill approved in the recent legislative session adds a sales tax exemption for certain natural gas processing facilities.
The goal is to produce a supply of ethane, propane and other products that could attract a plastics manufacturing plant to North Dakota.
The incentive applies to so-called straddle plants, or processing plants located on or near a natural gas transmission line. The plant removes excess natural gas liquids from the processed natural gas in the pipeline.
The tax exemption also applies to a facility known as a deep cut fractionator that processes the natural gas liquids to produce ethane, propane, butane and other products. To qualify, the facility must produce at least 45,000 barrels per day of ethane.
Link at The Williston Herald:North Dakota already had a sales tax exemption for a petrochemical plant, but it has never been used.
A reader suggests a Fortune 500 company is far down the road looking at North Dakota as a site for the plant.