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Lafayette council approves $1M TIF forgivable loan for Sustania Biologicals project
Summary
The Lafayette City Council approved an ordinance to provide a forgivable $1 million TIF loan to Sustania Biologicals LLC as part of a package to attract a proposed 40,000 sq. ft. manufacturing facility estimated at about $400 million; the council also approved a companion resolution adding the site to the Southeast TIF area.
The Lafayette City Council voted unanimously to approve Ordinance 2026-10, authorizing city financing to support the Sustania Biologicals LLC project and implementing a $1,000,000 tax-increment financing (TIF) commitment structured as a forgivable loan.
Council member said the company plans to build a roughly 40,000-square-foot manufacturing facility on the south side of town and described the project as part of a larger investment. “Sustania will produce Biomeg from corn derived dextrose for, PET plastics and related manufacturing applications,” the council member said, adding the investment is “estimated to…
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