Corning Inc. Gets $30M Tax Credit
CORNING, N.Y. (AP) -- Corning Inc. is getting a $30 million tax credit from the federal government.
The 48-C Tax Credit is part of a $150 million package that will go toward investments in manufacturing facilities by 12 firms. The benefit will allow Corning to expand the manufacturing capacity of its diesel emissions control products facility in Erwin, N.Y.
U.S. Sen. Charles Schumer says this new investment will allow continued growth as countries around the world toughen emission standards.
Corning already has begun a $245 million expansion of a manufacturing plant in Corning that will employ up to 275 when completed in 2015.
The Section 48-C program is intended to encourage investment in clean-energy technologies. It provides a 30 percent tax credit to support investments in a wide variety of clean-energy products.