From the PITTSBURGH TRIBUNE-REVIEW:
Big businesses could be in line for millions of dollars in new tax breaks in Pennsylvania under legislation that may be critical in the state’s bid to best Ohio and West Virginia for a petrochemicals plant.
The bill has quietly moved toward passage as state officials court Royal Dutch Shell plc, which plans to spend as much as $4 billion to build an “ethane cracker” in the tri-state area. The plant would create several hundred jobs.
Senate Bill 1237 would expand Keystone Opportunity Zones, special areas that grant businesses broad tax cuts, credits and exemptions to spur economic development. Businesses that invest at least $1 billion and create at least 400 permanent, full-time jobs would get an extra five years of tax breaks — 15 years in all — with more breaks for manufacturing and processing businesses, under provisions in the bill…
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EDITOR: More ‘alms for the rich!’ And what will be the environmental consequences? Will this cause Ohio and West Virginia to enact competitive subsidies and further a race to the bottom?
