Battle For Plant Heats Up; Ohio, W.Va. Offer Up Tax Incentives
22.05.12
Sources with knowledge of the matter said the announcement could come as early as this month.
"This would be the largest single economic investment in West Virginia in over 50 years," state Commerce Secretary Keith Burdette said, noting he believes the project could call for an investment of as much as $5 billion.
Previous estimates of project cost were capped at $2 billion.
Burdette also mentioned that, in addition to Shell, at least one other company is looking to locate a cracker in West Virginia. He said the interested companies are looking at sites of at least 250 contiguous acres "from Charleston all the way up to Hancock County."
Dan Carlson, general manager of new business development for Shell, said his company has been meeting with representatives from all three states for "productive discussions." Burdette said he and other state officials have designed a system of tax incentives to help attract the Shell investment to West Virginia.
According to Greenwire, a national environmental and energy news service, Ohio leaders are offering $1.4 billion in tax incentives to Shell to entice the company to locate the cracker there.
Source: Wheeling Intelligencer