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

Tuesday, 05 Jun 2012 11:06 AM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  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.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Cowboy Poet Waddie Mitchell Pens 'Call to All' on Nevada Ranch Standoff

Sunday, 20 Apr 2014 12:52 PM

A week after a tense standoff between gun-toting states' rights advocates and federal Bureau of Land Management police,  . . .

Boxer Rubin 'Hurricane' Carter Dies at 76

Sunday, 20 Apr 2014 11:26 AM

Rubin Hurricane Carter, the boxer whose wrongful murder conviction became an international symbol of racial injustice, . . .

Boston Marathon Defies Terror Attacks One Year On

Sunday, 20 Apr 2014 10:53 AM

The Boston Marathon returns Monday under a major security crackdown after last year's deadly bombings as a near record 3 . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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