Wolf Signs Local Resource Manufacturing Tax Credit
The following statement regarding the Local Resource Manufacturing Tax Credit is attributed to David N. Taylor, President & CEO of the Pennsylvania Manufacturers’ Association:
HARRISBURG, July 23, 2020—“The enactment of the Local Resource Manufacturing Tax Credit will establish an entirely new manufacturing sector in Pennsylvania, adding a billion dollars in upfront capital investment, hundreds of millions of dollars in wages to construct and staff the new plants, and thousands of direct, indirect, and induced jobs across the areas of Pennsylvania that need them the most.”
“While making new products like fertilizers and fuel, these manufacturing facilities will create high-value jobs, expand the use of Pennsylvania energy, and attract related industries and additional investments, all of which will accelerate our economic recovery. This remarkable effort has brought together Pennsylvania industry – both labor and management – in our shared commitment to a pro-production, pro-jobs, pro-growth agenda for our commonwealth.”
“Attracting and retaining natural gas synthesis manufacturing should be a priority of policymakers at the state and federal level to ensure this prosperity occurs in our commonwealth as opposed to a competitor state or country. These types of investments drive long-term and sustained tax revenue with exponential growth, as additional downstream companies and associated industries cluster to create a manufacturing hub.”
“We’ve seen the success that a production-based, Pennsylvania-focused incentive can bring to our commonwealth because today there are 6,500 construction jobs in western Pennsylvania thanks to a similar program. We welcome this same type of opportunity for the hardworking folks of northeast Pennsylvania and thank the General Assembly and Governor Wolf for their support.”
To read the full economic impact analysis:
www.pamanufacturers.org/nepanatgas
For infographics and more information:
