PA INDEPENDENT: …“As long as other states are doing it, Pennsylvania is kind of forced into it. I’d love to have to not go through all those. The trouble is that we have to. The trouble is, it works.”
Pennsylvania has assets such as location, low energy costs and natural resources that are attractive to businesses, but that’s not enough when the state also has a corporate net income tax of 9.99 percent and an oft-criticized regulatory environment, he said. The incentive packages help make up the difference…
A high-profile example in play is a proposed deal with Shell Oil for an ethane cracker plant in Beaver County. The proposal carries a $1.65 billion tax break over 25 years. That deal has yet to be finalized, but Pennsylvania was competing against Ohio and West Virginia when putting together the super-sized subsidy for the $2.5 billion plant… (more)
