Clean Technology Projects Get $2 Billion in Tax Credits

WASHINGTON, Jan. 8 (UPI) — Tax credits of $2.3 billion will be awarded for new, clean-technology manufacturing jobs, U.S. President Barack Obama announced Friday.

The tax credits, available through the American Reinvestment and Recovery Act, will enable creation of more than $7 billion in new manufacturing projects and create tens of thousands of jobs, Obama said in remarks at the White House.


“Building a robust clean energy sector is how we will create the jobs of the future,” Obama said. “The Recovery Act awards I am announcing today will help close the clean energy gap that has grown between America and other nations while creating good jobs, reducing our carbon emissions and increasing our energy security.”

Obama said 183 projects in 43 states are eligible for the credits, worth up to 30 percent of each project.

This effort, along with other Recovery Act investments, will drive growth in the renewable energy and clean technology manufacturing sectors, Obama said, giving the United States the ability to take global leadership in these markets.

While welcoming a global competition to develop clean energy jobs, Obama said, “I don’t want America to lose that competition.”

The tax credit awards also will give a “much needed boost to the manufacturing sector” buy building new plants or rehabilitating old ones, he said.

“This is good for middle class families, good for our security and good for our planet,” Obama said.

Copyright 2010 by United Press International


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