The green business is just doing great:
GAM, Spain’s largest wind-turbine maker, plans to close a blade factory in Pennsylvania to cut costs after a U.S. tax incentive expired.
The Zamudio, Spain-based company will fire 62 people and close the Ebensburg plant on March 31, Frank Fuselier, a spokesman, said today in an e-mail. Gamesa’s other U.S. facility in Fairless Hills, Pennsylvania, which produces nacelles, the car-sized units that house turbines’ machinery, won’t be affected.
The closing comes after the production tax credit for wind power expired Dec. 31, potentially slowing demand for wind-energy equipment…
Projects that began construction before the end of 2013 may qualify for the production tax credit, which pays wind-farm owners 2.3 cents for every kilowatt-hour produced.
No, I don’t think we should give “subsidies” for green energy (when Government takes less from oil companies in the form of lower tax rates or better tax credits, it’s called a “subsidy” according to the Liberals), but here again we see that our punitive tax system on corporations is killing jobs. More companies would stay here; more would relocate here and less would flee with their jobs and profit in hand if the U.S. tax system would be more favorable.
But having a better economy and more jobs would mean less of a need for elected Democrats to send #SNAPWorks and #RenewUI tweets.