Pa. Gov. Corbett Pushes $1.65B Tax Credit for Chemical Plants

Tuesday, 05 Jun 2012 11:06 AM

By Sandy Fitzgerald

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Pennsylvania Gov. Tom Corbett is pushing a proposal that would give Shell Oil and other companies more than $1.65 billion in tax credits to build plants in the state to process natural gas by-products into plastics.
 
Shell Oil apparently will have one facility, a so-called ethane cracker plant, ready to go in the southwestern part of the state by 2017, according to the Pittsburgh Post-Gazette.
 
Construction of the facility is expected to put about 10,000 people to work, and once built the petrochemical plant will employ a full-time workforce of several hundred to process natural gas liquids into plastics and other materials, the Post-Gazette reported.
 
The newspaper said Corbett, whose proposal is part of larger bill to be introduced in the state Senate next week, hopes to attract other companies to build ethane facilities as well by making the tax credits available over the next 25 years. 
 
Steve Kratz, a spokesman for the Pennsylvania Department of Community and Economic Development, described the GOP governor’s tax incentive plan as “part of a push to develop natural gas uses in the commonwealth.”
 
“If we passively sit and hope the market develops, we could have our natural resources piped out of state,” he said.
 

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

'Serial' Funny or Die Parody Offers Up Theories Ahead of Podcast Finale

Thursday, 18 Dec 2014 11:37 AM

As "Serial" prepares to wrap up its first season this week, Funny or Die has released a parody of the viral hit podcast  . . .

Dzhokhar Tsarnaev Hearing Marks First Public Appearance

Thursday, 18 Dec 2014 11:25 AM

Dzhokhar Tsarnaev's hearing on Thursday marked the first time he was seen in public since his capture and arraignment in . . .

Vladimir Putin News Conference: Russian Prez Vows to Fix Economy

Thursday, 18 Dec 2014 10:27 AM

Vladimir Putin delivered a three-hour news conference this week vowing never to let the West defang his proud nation and . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved