The House and Senate Majority Policy committees recently held a joint hearing to discuss the benefits and economic impacts of the Local Resource Manufacturing Tax Credit.
The hearing was attended by local industrial and union leaders and Rep. Aaron Kaufer (R-Luzerne).
“Incentives for manufacturers to build facilities that create jobs are always important, but they are especially critical in the current economy,” Rep. Martin Causer (R-Cameron/McKean/Potter), House Majority Policy Committee chairman, said. “Today’s hearing allowed committee members to hear from industry leaders who plan to use Pennsylvania energy resources to create jobs and manufacture products here in the Commonwealth.”
The Local Resource Manufacturing Tax Credit was created by Act 66 of 2020. Its purpose is to attract private investment for the construction and operation of manufacturing facilities that use dry natural gas to produce fertilizer and other petrochemical products.
These facilities capture the majority of greenhouse gas emissions in their manufacturing process.
“It is not just about investing in dry natural gas – it is about creating and expanding family-sustaining employment opportunities and opening the door for fresh economic possibilities in Pennsylvania,” Kaufer, who sponsored Act 66 of 2020, said. “This tax credit also allows the Commonwealth to once again operate as a manufacturing hub for industrial exports.”