Friday, June 22, 2012

PA Seeks Shell Ethane Cracking Plant

The state of Pennsylvania is offering Shell significant tax breaks over a 25 year period to win construction of a new ethane cracking plant in the state.

The Corbett administration is mounting a full-court press to persuade Shell Chemical L.P. to build a huge petrochemical plant in Pennsylvania that officials see as the cornerstone of a manufacturing revival fueled by Marcellus Shale natural gas.
Members of Corbett's cabinet last week began pressing legislators to approve a tax credit that could exempt Shell from much of its state tax burden for a quarter-century — up to $1.65 billion over 25 years. Officials say the inducement is worth the cost because of the amount of economic activity that would be spun off by the Shell project.
"We're talking about building an entire petrochemical industry," said Steven Kratz, spokesman for the state Department of Community and Economic Development. "If we allow this resource to be piped out of Pennsylvania, it's a real failure on our part."

This sounds a lot like the Mini-Pearl Plants I wrote about last summer.  
Good news for economic development in western PA if it happens.
I haven't seen a similar effort by Ohio or West Va, two other states that would benefit from such an investment.

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1 comment:

Anonymous said...

thanks for sharing.