HARRISBURG – The Senate has approved bipartisan legislation to help create thousands of family-sustaining jobs, according to Senator David G. Argall. Senator Argall spoke in favor of this bill on the floor of the Senate.
“This bill was an achievement in bipartisan collaboration to improve the economy of northeastern Pennsylvania,” said Argall. “I would like to commend my friend and neighbor Senator John Yudichak (I-Carbon/Luzerne), who worked tirelessly for months to reach an agreement between Republicans and Democrats, business and labor, the House, the Senate and the Governor.”
House Bill 732 would create the Local Resource Manufacturing Tax Credit Program to add an incentive for manufacturers to invest in Pennsylvania communities. The program would be available to facilities that use dry natural gas to produce fertilizer and other petrochemical products.
Under the program, a business would be required to invest more than $400 million in a Pennsylvania facility and create at least 800 jobs in order to qualify for a tax credit.
The bill would require companies to recruit and employ local workers in Pennsylvania. A company would not be eligible for the tax credit until the jobs have already been created.
The bill mirrors the Pennsylvania Resource Manufacturing tax credit, which was established during the 2012-13 budget and led to the location of the Shell Complex in Beaver County. Construction of that plant has already created thousands of jobs and is projected to have a long-term economic impact of $6 billion.