As millions of Americans brace for a slew of new potential taxes next year, Shell – the U.S. subsidiary of Royal Dutch Shell (NYSE: RDS-A) – is contemplating which state it wants its next big tax break from.
West Virginia passed legislation in January that would give Shell a 25-year property tax break if it sets up a new $2-billion operation there.
And according to the Associated Press, “Pennsylvania offered 15 years, and Ohio has reportedly offered major incentives.”
It should be no surprise these states are competing to win Shell over.
After all, they’re located in the heart of the Marcellus Shale region, the largest shale gas deposit in the world. And as CBS News reports, Shell “would create 12,000 jobs, both direct and indirect” and “provide $600 million in wages annually.”
But you may be surprised to know that Shell isn’t preparing to start fracking for more natural gas in this region. Instead, it’s going to start “cracking” it.
Investment U.com
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