Production tax credit affect on local jobs - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Production tax credit affect on local jobs

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Amarillo, Texas - The renewing of a tax bill supporting growth of renewable energies is put on hold.

After the Senate decides to wait on renewing the 205 billion dollar tax bill, the Alternative Energy Institute at WT tells us the new projects we told you about Monday will not be affected.

This is because the money used to complete them comes from a different source.

And about the bill being renewed, AJ Swope from Class 4 Winds says it's almost always not until the last minute before this credit gets renewed, which he believes is what will happen this time.

But others say you can never be too sure.

Kenneth Starcher from WT says, "I would never guarantee 100 percent. We have seen this credit turned off three times in the past seven years. When it does it slows the industry down up to a year. But they've always turned it back on at the end of some period of time. We're really hoping that this credit gets extended before it dies December 31st of this year."

And when it does, he says we can expect continued growth of the wind industry, just like we've had in the last five years.