ProgressOhio

COLUMBUS, OH – A tax credit passed through the Recovery Act has already provided $125 million to help Ohio manufacturers produce clean energy technologies, but funding for this program is set to expire.

U.S. Sen. Sherrod Brown (D-OH) joined the top executives of seven Ohio companies that have collectively received $125 million in funds through the Advanced Energy Manufacturing Tax Credit to announce an effort to expand the program. Brown’s plan is aimed at creating more clean energy jobs in Ohio and preventing funds from being used to create jobs overseas.

“Manufacturing means jobs and clean energy represents the future of American manufacturing,” Brown said. “Ohio already has a skilled workforce and a rich manufacturing heritage. By expanding the Advanced Energy Manufacturing Tax Credit program, we will help create new jobs and make Ohio the Silicon Valley of Clean Energy Manufacturing.”

Brown fought to pass $2.3 billion in the Recovery Act for the Advanced Energy Manufacturing Facility Investment Tax Credit. This program provides investment tax credits – that fund up to 30 percent of a project’s costs – to support the development of facilities that manufacture clean energy technology.

In January, seven Ohio companies received a total of nearly $125 million in funds through this program – which is expected to create thousands of jobs across the state. Brown announced plans to expand the program to $5 billion and prevent any funds from being used to create jobs overseas.

Brown is writing to Energy Secretary Steven Chu and Treasury Secretary Tim Geithner today urging them to expand the program to $5 billion and to maximize domestic job creation.