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Redevelopment commission approves tax abatements for BioGlycols/Sustaina $430 million plant
Summary
The Lafayette Redevelopment Commission voted to recommend establishing an Economic Revitalization Area and approved 10-year real estate and personal property abatements for BioGlycols, LLC (company representatives referred to the project as Sustaina), which proposes a $430 million plant co-located with PREMET.
The Lafayette Redevelopment Commission on Sept. 25 approved two companion resolutions recommending tax abatements for a proposed $430 million manufacturing facility to be sited near the PREMET plant in Lafayette. The commission authorized a 10-year real estate abatement and a 10-year personal-property abatement for the company named in the documents as BioGlycols, LLC; company representatives referred to the project as Sustaina.
Commission Redevelopment Director Dennis Carson presented the two resolutions, identified in the meeting record as LRC 2025-12 (economic revitalization area and real-estate abatement recommendation) and LRC 2025-13 (personal-property abatement recommendation). He said the company plans to invest about $430,000,000 in a single facility and is seeking 10-year abatements on both real estate and machinery/equipment. "This resolution establishes what we call an economic revitalization area, an ERA, for the purposes of tax abatement," Carson said.
Representatives from the company described the project as a plant that will use dextrose from corn to…
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