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.
Please see full article below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.