AcuTemp Received Federal Clean Energy Tax Credits to Retool and Create 50 Jobs
DAYTON, OH – U.S. Sen. Sherrod Brown (D-OH) visited Dayton today to announce a bill that would renew a successful tax credit that helped a Dayton manufacturer create more than 50 clean energy jobs. Brown was joined by Brian Kohr, President of AcuTemp and Angela Dix, a worker who was hired due to federal advanced energy and energy efficiency tax credits. He toured the plant and met with workers.
“Manufacturing is critical to the strength of our nation and the future of our middle class, and clean energy represents the future of American manufacturing,” Brown said. “Renewal of the 48C tax credit is will allow American manufacturers to retool for the clean energy economy. It has already helped Ohio businesses like AcuTemp expand operations and to keep and create jobs. Expanding this tax credit would allow more businesses to create jobs and bolster the Miami Valley’s leadership in clean energy manufacturing."
“We were very pleased to host the Senator” Kohr said. “Senator Brown is very focused on job creation in Ohio and has recognized that clean energy industries are key to not only future job growth but are critical to reducing our reliance on foreign sources of energy.”
AcuTemp used $900,000 in federal tax credits to add workers and expand its operations in the Miami Valley, and it is continuing to grow. At AcuTemp, Brown announced plans to reintroduce the Security in Energy and Manufacturing (SEAM) Act, which would extend the Advanced Energy Manufacturing Tax Credit (48C) – a tax credit that help companies like AcuTemp create clean energy jobs by retooling operation for the clean energy supply chain.
The initial tax credit supported seven Ohio projects—including AcuTemp—totaling nearly $125 million in tax credits; dozens more eligible projects applied for funding and were denied due to a lack of funds. The Department of Energy (DOE) states that the program was more than three times oversubscribed. Nationwide, DOE deemed 418 projects eligible, which amounts to $5.8 billion in unfunded eligible applications. These manufacturers are waiting in the pipeline, and would be ready to break ground soon after they receive funding.
Brown is the leading congressional champion of the 48C tax credit. Components of his bill are included in the Senate Majority Leader’s Innovation plan. The 48C program provides a 30 percent credit for domestic companies that invest in new, expanded, or reequipped clean energy manufacturing projects. The program is aimed at building capacity to meet this new and growing source of demand. Qualifying facilities manufacture a wide range of clean energy products, including wind turbines, solar panels, hybrid vehicle systems, carbon capture and sequestration systems, and biofuel refinery components, among others.
Brown has repeatedly called for the expansion of the 48C program. On April 15, Brown led a letter with 10 U.S. Senators calling for climate legislation to provide assistance for manufacturers by expanding the 48C program. On April 7, Brown joined Ron Bloom, Senior Counselor for Manufacturing Policy, to hold a roundtable with central Ohio manufacturers at Edison Welding Institute in Columbus. Earlier that same week, Sen. Brown met with southeastern Ohio manufacturers at Thermo Fisher plant in Marietta. In late March, Governor Ted Strickland (D-OH) joined 19 Governors in a letter urging President Obama to expand the 48C program.