This bill will play an important role in leveling the playing field for U.S. manufacturers that want to make the investments to create green jobs.
Cleveland, OH (PRWEB) May 9, 2010
Great Lakes WIND Network (GLWN) ™ is endorsing the "Security in Energy and Manufacturing Act of 2010". Introduced today by U.S. Senator Sherrod Brown (D-OH) and cosponsored by Senators Charles E. Schumer (D-NY), Jeff Merkley (D-OR), Robert P. Casey (D-PA), and Kay Hagan (D-NC), the SEAM Act will expand and improve the Advanced Energy Manufacturing Tax Credit (48C) program by helping to encourage needed investments to grow domestic manufacturing and supply chain capacity of clean energy technologies.
“If there was ever a market tailor-made for U.S. heavy industry, wind would be it. The parts match our manufacturing infrastructure and capabilities. The applications are here, and logistics favors local sources. However, our manufacturers must have the latest technology and equipment to successfully compete against already-established wind suppliers from other continents,” explained Ed Weston, Director of GLWN. “We believe it provides important incentives to catalyze the investments necessary to grow our nation’s wind supply chain.”
The Advanced Energy Manufacturing Tax Credit (48C) was authorized in Section 1302 of the Recovery Act and provides a 30 percent credit for domestic companies for investments in new, expanded, or reequipped clean energy manufacturing projects. The program is aimed at building capacity to meet this new and growing source of demand.
The Security in Energy and Manufacturing (SEAM) Act would extend the program and allow for grants in lieu of tax credits. The SEAM Act also adjusts the selection criteria to give higher priority to facilities that manufacture – rather than assemble – goods and components in the U.S.
“This bill will play an important role in leveling the playing field for U.S. manufacturers that want to make the investments to create green jobs. To fully expand our American supply chain, we also need a revaluation of Asian currencies and the creation of a long-term U.S. energy policy that includes a national renewable energy standard,” Weston noted.
Headquartered in Cleveland, Ohio, the Great Lakes WIND Network (GLWN)™ is a supply chain advisory group and network of 1500 manufacturers and suppliers from 35 states and Canada whose mission is to increase the domestic content of North America’s wind turbines. The Network connects wind turbine companies with manufacturers to support business expansion, investment, and new jobs in the wind sector. GLWN is an initiative of WIRE-Net, which is a non-profit economic development organization with a membership of 230 manufacturing-related companies that employ 10,000 people.
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