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Lawmakers Pass Bills To Lure Petrochemical Industry To W.Va.

February 25, 2020 / BRITTANY PATTERSON
SHARESHARESHARE

The West Virginia House of Delegates on Tuesday passed two bills that would provide tax cuts to the natural gas industry in an effort to boost petrochemical and plastics manufacturing.    House Bill 4421 the “Natural Gas Liquids Economic Development Act” would provide tax credits to companies that transport or store natural gas liquids. These by-products of natural gas drilling include propane and ethane, which are feedstocks for chemical and plastics production. Del. Bill Anderson, a R-Wood County, speaking on HB 4421, said the measure would promote natural gas storage and pipelines in an effort to boost development of downstream manufacturing in the state.  “We must develop manufacturing of these liquids in this state,” he said. “Our alternative is simply this: Are we going to put them in a pipeline and send them to the Gulf Coast and create jobs there? Or are we going to encourage development in this state, a natural gas storage hub?...