R.I. Resource Recovery Corp. (RIRRC) Executive Director Michael OConnell distributed more than $1.8 million to the state's 39 cities and towns for profits realized from the sale of recyclables at a ceremony early Wednesday morning.
Portsmouth received more than $41,000 from the profits.
“We are delighted to announce that the profit-sharing checks are about triple in size compared with last year,” said OConnell. “The recycling markets performed very well in 2010 and early 2011, which translates to more dollars that RIRRC can share among our municipal partners. Better still, the improved performance by the municipalities helped to prolong the life of the Central Landfill and divert valuable recyclables from being buried there.”
OConnell reminded the audience of 90 this is the last year that municipalities will be allowed to spend the profit-sharing funds as they wish. Starting in FY12, the recycling profit-sharing monies must be earmarked for recycling efforts.
Shares are determined by the amount of recycled tonnage trucked to the Materials Recycling Facility in Johnston during fiscal year ending June 30, 2011.
Cumulatively, the cities and towns delivered 92,499 tons of recycling to RIRRC. The town of Portsmouth delivered 2,036 tons of recycling, resulting in a profit share of $41,086.54.
All recycling commodities except glass experienced a strong year with very few seasonal dips. Last year, the average value of recyclables collected in Rhode Island was $20 per ton, compared with $7.80 per ton in FY10.
Located in Johnston, Rhode Island Resource Recovery Corporation is the quasi-state environmental agency that manages nearly all of the state’s municipal and commercial solid waste. RIRRC owns and operates a materials recycling facility, which processes more than 92,000 tons of recyclables annually, and the Central Landfill, which disposes approximately 750,000 tons of solid waste annually.