Shell Offers Payments Instead of Taxes for Plant
MONACA, Pa. (AP) — Shell Oil Co. is offering to make payments to replace lost local taxes if a multi-billion dollar petrochemical plant is built in western Pennsylvania.
The Beaver County Commissioners say in a statement issued Monday that Shell has offered to make the maximum payments-in-lieu-of-taxes if it builds the plant, which would convert natural gas into other consumer and industrial products such as plastics.
State officials have offered Shell significant tax breaks if it builds the plant, but that deal could have squeezed the local school board and government of revenue.
Local officials say they're pleased with Shell's high level of engagement with the community. They hope the plant will lead to an industrial resurgence in the area.
The proposed site is about 40 miles north of Pittsburgh.