$5 billion more sought for companies that make clean energy equipment

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$5 billion more sought for companies that make clean energy equipment

Dayton Daily News – COLUMBUS – U.S. Sen. Sherrod Brown, D-Ohio, and Gov. Ted Strickland are urging Congress to expand a manufacturing tax credit available to companies that make equipment used to generate clean energy.

The Advanced Energy Manufacturing Tax Credit was authorized as part of the federal economic stimulus law that took effect in February. It provides a 30 percent tax credit for investments in new, expanded, or re-equipped advanced energy manufacturing projects. The U.S. Department of Energy and the Internal Revenue Service review applications for projects which are proposed to use the tax credit.

Projects must be completed within four years of their tax-credit acceptance.

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