Local Resource Manufacturing Tax Credit
Fueling Investment Through Energy-Based Incentives
Overview
House Bill 732 introduces a state tax credit to encourage the development of large-scale methane-based industrial projects like fertilizer and petrochemical production.
Key Highlights
- 20% state tax credit for qualifying businesses
- Requires $400M+ investment
- Must create at least 800 full-time and construction jobs
- Must include carbon capture/environmental protections
What This Means
This program aims to create new jobs and infrastructure while supporting environmentally responsible industrial growth in Pennsylvania.
Who qualifies for this tax credit?
Businesses must meet strict criteria: a $400M minimum investment, the creation of 800+ jobs, and usage of methane as a production input.
Is carbon capture technology mandatory?
Yes, where feasible, carbon capture and sequestration measures must be included to comply with environmental standards.
