Wisconsin wind-industry firms get stimulus tax breaks

Posted on January 11, 2010. Filed under: Economic development, Wind |


From an article on BizTimes Daily:

President Barack Obama today announced that his administration is awarding $2.3 billion in tax credits to the private sector for clean energy manufacturing projects across the country, including seven companies in Wisconsin that will receive $21 million in tax breaks.

A total of 183 projects across the nation will receive the tax breaks, which are part of the federal economic stimulus package passed last year.

The White House said the projects will create 17,000 jobs and will boost U.S. manufacturing of advanced clean energy technologies including solar, wind and efficiency and energy management technologies.

The Wisconsin recipients of the tax credits are:

Waukesha Electric Systems Inc. is receiving a $12.45 million tax credit to expand its plant in Waukesha to product large, high-voltage power transformers. The company anticipates that more than 80 percent of them will be used to help bring renewable energy to distant load centers or to replace aging, less efficient transformers. . . .

Ann Arbor, Mich.-based Kaydon Corp. is receiving a $1,774,800 tax credit to re-equip and expand its manufacturing facility in Milwaukee to produce pitch and yaw bearings used in the production and assembly of wind energy turbines.

Milwaukee-based Ingeteam Inc. is receiving a $1,665,299 tax credit to manufacture wind turbine generators in various technologies. The company will also manufacture power converter and control systems for the wind and solar industries.

Wausaukee Composites Inc. is receiving a $930,810 tax credit to manufacture fiberglass wind turbine components.

Kaukauna-based Bassett Inc. is receiving an $868,500 tax credit to manufacture wind turbine towers and foundation components for all sizes of turbines and a $75,000 tax credit to manufacture carbon capture and sequestration systems to extract and trap carbon from waste systems from coal fired power plants.

Waukesha-based Cooper Power Systems LLC is receiving an $846,180 tax credit for its new facility that will be producing high efficiency transformers.

Advertisements

Make a Comment

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

    About

    A statewide nonprofit dedicated to promoting economically and environmentally sustainable energy policies and practices in Wisconsin.

    RSS

    Subscribe Via RSS

    • Subscribe with Bloglines
    • Add your feed to Newsburst from CNET News.com
    • Subscribe in Google Reader
    • Add to My Yahoo!
    • Subscribe in NewsGator Online
    • The latest comments to all posts in RSS

    Meta

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: