Pennsylvania and West Virginia Move Tax-Break Bills to Lure Petrochemical Plant, Hundreds of Jobs

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Originally published in Marcellus Shale Law and Policy Update

A legislative proposal that would expand Pennsylvania's tax-incentive zones is one of the lures the state is using to convince Shell Oil Company to locate a petrochemical plant there. Pennsylvania is competing with West Virginia and Ohio for the cracker plant, which will convert ethane extracted from the Marcellus Shale into the chemical building blocks needed to make plastics.

Pennsylvania Senate Bill 1237 would allow for 15 new zone expansions statewide. Investors could get an extra five years of no taxes. Manufacturing and processing businesses, moreover, would get new breaks on state corporate income and capital stock franchise taxes.

Steve Kratz, spokesperson for Pennsylvania Gov. Corbett's Department of Community and Economic Development, said he preferred not to go into details regarding the legislation or negotiations with Shell, but said that the state was making a strong case and was still very much in the game.

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Published In: Business Organization Updates, Energy & Utilities Updates, Finance & Banking Updates, Tax Updates, Zoning, Planning & Land Use Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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