Processing Magazine

Pa. lawmakers propose $67 million per year tax credit for Shell refinery

June 6, 2012

HARRISBURG, Pa. — A bill expected to be introduced to the Pennsylvania Senate this week would give future tax credits worth $67 million a year for a petrochemical refinery planned by Shell Oil Co., The Daily Journal reported.

According to Senate President Pro Tempore Joe Scarnati''s top aide, lawmakers will demand assurances that the plant will be built in Pennsylvania and that promises of 10,000 to 20,000 jobs will materialize.

The credits would not become available until 2017, but Gov. Tom Corbett is seeking action now apparently to demonstrate the state''s commitment to sharing the costs of the multibillion-dollar project, the article stated.

The credits would have an aggregate value of nearly $1.7 billion over the 25 years that they would remain in place.