Tag: Green Jobs
Michigan pursues wind energy with tax policy
Wednesday, January 25th, 2012
President Obama laid out a vision in his State of the Union speech Tuesday night that includes job creation through support for renewable energy. Michigan has one of the nation’s highest unemployment rates at 9.8 percent. A new tax ruling in the state could cost counties millions in revenue but help boost the state’s burgeoning renewable energy industry. Patrick Howard writes in the Great Lakes Echo.
Photo from Great Lakes Echo, dave.worth (Flickr).
Wind turbine with accompanying tower.
The State Tax Commission ruling allows energy companies to pay substantially less in personal property taxes and gives a break to state manufacturers as well. Companies that build wind turbine blades, “casts” – which house the turbines — and related parts now pay significantly less in property taxes as a result of the ruling.
In his State of the State address, Gov. Rick Snyder stressed how the reduction on taxes for industrial equipment will effectively boost the economy and create jobs.
Mark Clevey, manager of renewable energy programs at the Michigan Energy Office, called the tax ruling a positive for the future of state energy businesses.
Clevey said casting companies and turbine part manufacturers are beginning to locate to Michigan from overseas, a trend he described as a monumental change compared to three or four years ago.