City’s BioNitrogen investment to create jobs ‘just didn’t work out’

Posted on November 8, 2017

In April 2014, the Perry City Council voted unanimously to provide an incentive package to BioNitrogen — a company seeking to construct a $300 million plant in Taylor County — a decision council members described at the time as “a risk worth taking.”

When the council votes later this month on an ordinance restricting its ability to provide loan guarantees for business ventures (see related story), it will come nearly two years after the council provided a $5 million loan guarantee, to BioNitrogen, which ultimately declared bankruptcy, resulting in a loss of more than $3 million for the city.

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