WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) introduced legislation that would boost Ohio's vinyl siding manufacturing industry while providing a tax credit to consumers who purchase energy-efficient products or retrofit their homes to reduce energy costs.
"This is about increasing demand for products manufactured in Ohio, putting people back to work, and helping consumers lower their energy costs," Brown said. "Helping Ohioans weatherize their homes will bring new purchase orders to Ohio manufacturers."
Brown's legislation, the Senate companion to Congresswoman Mary Jo Kilroy's H.R.4772, would add a rebate for replacement of exterior cladding with qualifying insulated siding, creating hundreds of jobs, while improving the energy efficiency of America's homes and saving hundreds of thousands of dollars in energy costs.
The use of insulated siding also supports accessory and architectural trim manufacturers, the building products distribution chain, and marketing and consulting firms. Builders, remodelers and installation contractors benefit by being able to offer and install a new category of product that provides benefits not otherwise available.
Manufacture of vinyl siding is concentrated in Ohio. Four of the nine vinyl siding manufacturers in the U.S. maintaining plants in Ohio; Exterior Portfolio by Crane in Columbus (200), Style Crest, Inc. in Fremont, The Foundry in Franklin, and Associated Materials, Inc. in West Salem.
The Vinyl Siding Institute estimates that a one percentage point increase in the use of insulated siding would generate considerable tax revenue and an energy savings of nearly $6.4 million over the lives of the additional homes with insulated siding due to the rebate. The program would create nearly 700 jobs, a stimulus to the economy of $62.7 million, and $18.9 million in tax revenues.