SCHUMER HOLDS STRATEGY SESSION WITH TAYLOR BIOMASS, LOCAL BUSINESS OFFICIALS TO DETERMINE BEST WAY TO KEEP JOB-CREATING FACILITY ALIVE IN FACE OF HOUSE BUDGET
House Budget Proposal Would Slash Promised Funding and Stop Taylor Biomass Renewable Energy Construction in its Tracks; Schumer Met with Taylor Execs and Local Business Leaders to Determine Job-Saving Strategy
Schumer Paved Way for $100 Million in Federal Loan Guarantees; New Facility Already Putting Over 100 People to Work, Set to Create 300-400 Jobs and Spur Economic Growth in Hudson Valley
Schumer: Taylor Is a Small Business Owner, and Project Has Created Next Generation of American Jobs in New York; Reckless House Slashing Could End Existing and Future Jobs
Last week, U.S. Senator Charles E. Schumer met with Taylor Biomass owner Jim Taylor and local business leaders to develop a strategy to save Taylor Biomass from the job-killing loan guarantee cuts that are part of the House budget proposal. The budget proposal that passed the House floor this week would ultimately kill essential loan guarantees for the Taylor Biomass Energy project underway in Montgomery, NY costing the Hudson Valley hundreds of current jobs, and more than 400 future jobs. In December, Schumer joined Jim Taylor of Taylor Biomass as he broke ground for the construction of this renewable energy facility, which will convert municipal waste into energy. This facility would be the first of its kind in the nation, and was all made possible by the Department of Energy Loan Guarantee program, from which Taylor Biomass is set to receive a $100 million loan guarantee within the next few months. The budget proposal, however, would rescind the funds from the Department of Energy that Taylor Biomass is now relying on to finance this project. If the House budget were to become law, Taylor Biomass' loan guarantee would be revoked, and the years of preparatory work, millions of dollars in initial investments and over 400 jobs would all be lost.
"Taylor Biomass is a job-creating pioneer in the field of renewable energy, and must be saved," said Schumer. "I've met today with Jim Taylor and other local business leaders to determine the best way to make that happen. The House plan could stop all of the amazing progress Taylor has made dead in it tracks, destroying hundreds of private sector jobs, trashing years of time and financial investments, and eliminating the chance for Hudson Valley to be at the center of the renewable energy industry. We all agree that we must stop this reckless proposal in the Senate - I'm going to fight tooth and nail to do just that, and I'm optimistic that we will succeed. This is a project supported by both parties on the local level, and by fighting to save these loan guarantees, we can help Taylor reach its potential as a job creator for the region."
While at Taylor Biomass, Senator Schumer met with Owner Jim Taylor, President of Hudson Valley Economic Development Corp., Michael Oates, and Deputy County Executive, James O'Donnell. Together, they developed a strategy to handle the cuts to Taylor's loan guarantees that are part of the House budget. Loan guarantees are used by the federal government to support job growth while minimizing costs for the taxpayer. Under this program, companies like Taylor Biomass go through an intensive vetting process based on the safety of the investment, community interest and initial private investment. After Schumer's urging, Taylor Biomass received word that they would receive this loan, thus allowing construction to move forward. To further prove the high value of this investment in Taylor Biomass, last week Taylor announced that they have even begun exporting their technology around the world, growing their business and helping America become an even more significant exporting power.
In December, Schumer joined Jim Taylor of Taylor Biomass as he broke ground for the construction of this renewable energy facility, which will convert municipal waste into energy. This facility would be the first of its kind in the nation, and was all made possible by the Department of Energy Loan Guarantee program, from which Taylor Biomass is set to receive $100 million within the next few months. The House budget proposal, however, would rescind the funds from the Department of Energy that Taylor Biomass is now relying on to finance this project. If the House budget were to become law, Taylor Biomass's loan guarantee would be revoked, and the years of preparatory work, millions of dollars in initial investments and over 400 jobs would all be lost.
The bill that passed the House last week to continue funding the federal government would rescind all "unobligated" funds from the Department of Energy's clean energy loan guarantee program, with the exception of funds for nuclear energy projects. Funding has yet to be officially obligated for the Taylor Biomass project, making it vulnerable to these funding cuts.
Taylor Biomass Energy is part of Taylor Recycling, a waste recovery company headquartered in Montgomery. TBE houses one of the most innovative construction and demolition recycling operations in the world. Over 95% of the waste received at this facility is converted into valuable and reusable end-products. Taylor pioneered a process called gasification to convert solid waste into a renewable energy source.
According to Taylor, the gasification process uses very high temperatures to convert biomass materials, including those commonly found in solid waste, into a high-quality gas known as "syngas." The materials are not combusted, fully avoiding the potential pollutants associated with the traditional burning method for converting waste into an alternative energy source. Syngas can then be used to produce energy through gas turbines or it can be converted into biofuels. According to Taylor, the company's current business model will reduce our dependence on foreign energy by 7.4 million gallons of oil per year.
The Taylor project is directly responsible for currently employing construction workers, engineers, electricians, equipment suppliers, environmental consultants and lawyers across the Hudson Valley. Taylor was planning to enter Phase II of the construction of the new facility on March 1st, which would have resulted in hundreds of employees being put to work after being unemployed during the economic downturn. With the uncertainty Taylor is facing due the job destruction tactics of the House, Taylor is unsure of when construction will start, resulting in these workers continuing to be unemployed.
Schumer makes clear that the House budget proposal would rescind the funds from the Department of Energy that Taylor Biomass is now relying on to finance their unique renewable energy project. If the House budget were to pass in the final budget, Taylor Biomass's loan guarantee would be revoked, and the years of preparatory work, millions of dollars in initial investments and over 400 jobs would all be lost. Schumer, Taylor and other local business officials strategized how to best keep job-creating facility alive in face of the House cuts.