PA to Grant $1.7B in Tax Credits for Shell Cracker Plant

The AP is at it again. This time they’ve taken aim at Pennsylvania Gov. Tom Corbett over the proposed new ethane cracker plant that Shell announced they would build in Beaver County, PA (see this MDN story for background).

The breathless headlines are that (gasp) Pennsylvania will have to grant Shell $66 million a year in tax breaks, for a total deal of some $1.7 billion in foregone taxes over 25 years (while at the same time that nasty Corbett keeps cutting previously scheduled obscene pay increases for teachers, never mind that the state is broke after years under Ed Rendell and Democrat control). That’s the sum total of the AP story running in hundreds of newspapers now.

Let’s provide some perspective, shall we?

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