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$5 billion more sought for companies that make clean energy equipment

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By John Nolan, Staff Writer 10:55 AM Tuesday, April 6, 2010

COLUMBUS – U.S. Sen. Sherrod Brown, D-Ohio, and Gov. Ted Strickland are urging Congress to expand a manufacturing tax credit available to companies that make equipment used to generate clean energy.

The Advanced Energy Manufacturing Tax Credit was authorized as part of the federal economic stimulus law that took effect in February. It provides a 30 percent tax credit for investments in new, expanded, or re-equipped advanced energy manufacturing projects. The U.S. Department of Energy and the Internal Revenue Service review applications for projects which are proposed to use the tax credit.

Projects must be completed within four years of their tax-credit acceptance.

Brown and Strickland plan to meet with manufacturers and entrepreneurs in the advanced energy business on Wednesday, April 7, at the Edison Welding Institute in Columbus.

Brown has urged Congress to add $5 billion to the tax credit program. Strickland joined 19 governors in writing to President Obama in support of the program.

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