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Ohio Utica Shale

Shell Oil could get tax credits of $1.7 billion

By Bob Downing Published: June 7, 2012

Pennsylvania Gov. Tom Corbett is advocating future tax credits worth as much as $67 milion a year for a petrochemical cracker plant planned by Shell Oil Co. in western Pennsylvania.

The proposed credits would not become available until 2017 and would be worth $1.7 billion over 25 years.

The details of the tax plan came out Monday.

Pennsylvania won the plant over Ohio and West Virginia, both of which also offered reduced taxes and other incentives.

The plant may be located at Monaca in Beaver County on the Ohio River northwest of Pittsburgh.

Shell has signed a land-option agreement and is further evaluatinjg the site.

The plant would process ethane from natural gas drilling and turn into polyethylene, a key plastic.

The plant could result in 10,000 to 20,000 related chemical  jobs, according to estimates.

 

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