The House and the Senate majority Policy committees will host a joint hearing on the implementation of the Local Resource Manufacturing Tax Credit Program on Thursday, Sept. 24, at 10:30 a.m.
“Incentives for manufacturers to build facilities that create jobs are always important, but are especially critical in the current economy,” said House Majority Policy Committee Chairman Martin (R-Cameron/McKean/Potter), House Majority Policy Committee chairman. “This hearing will allow 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 law, sponsored by Rep. Aaron Kaufer (R-Luzerne), adds incentives for manufacturers to invest in Pennsylvania communities and recruit and employ local workers in the state. The program is available to those facilities that use dry natural gas to produce fertilizer and other petrochemical products.
“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,” said Kaufer. “This tax credit also allows the Commonwealth to once again operate as a manufacturing hub for industrial exports.”
Businesses would be required to invest more than $400 million in a Pennsylvania facility and create at least 800 jobs to qualify for a tax credit.
“People in the district that I represent tell me that their No. 1 priority is jobs, jobs, jobs,” said Senate Majority Policy Committee Chairman David Argall (R-Schuylkill/Berks). “This tax credit was approved after a long, bipartisan effort by Sen. Yudichak (I-Carbon/Luzerne) and Rep. Kaufer and will help deliver crucial energy jobs to the Commonwealth. My friend and colleague Sen. Lisa Baker, who represents a large portion of northeastern Pennsylvania, perfectly summed up this legislation when she described it as an effort to encourage greater use of a state resource to expand manufacturing capabilities and bolster employment.”
The public is invited to watch the event live policy.pasenategop.com