Manchin Joins West Virginia Business and Community Leaders for Energy Communities Tax Credit Workshop

Statement

“This credit was first established in 2009 and allocated $2.3 billion to nearly 200 energy manufacturing projects across 43 states by providing them a 30% investment tax credit. None of them were in West Virginia.Looking at the success of the program alongside the necessity that we onshore our supply chains and expand our manufacturing footprint, I focused on restarting the program with another $10 billion in the Inflation Reduction Act.

And, for the first time, $4 billion of that is set aside specifically for projects in coal communities that have helped power our nation to become the greatest industrial might the world has ever seen. To be clear, these coal communities we all know well are eligible for the full $10 billion, but only they are eligible for $4 billion, making it a huge opportunity. So, while West Virginian companies may not have participated in this program 15 years, ago, it’s teed up to make a huge difference this go around by incentivizing companies on the leading edge of next-generation energy technologies to come to places like Appalachia and allowing companies already here to expand their production facilities or deploy new technologies to continue our state’s legacy as America’s energy powerhouse.”

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