New Markets Tax Credits Spur Investment

by Joanna Schroeder (DomesticFuel.com) There is a little secret in the renewable energy sector that many don’t know about –New Markets Tax Credits. These tax credits provide incentives for private investors to help fund projects that create jobs and diversify economics, and were extended for another year as part of the American Tax Relief Act.

... Investors receive a seven-year, 39-percent federal tax credit as incentive to finance loans and investments in businesses and economic development projects in distressed communities. They are not restricted to energy projects.

...A more well-known project to the alternative industry is ZeaChem, whose demonstration facility in Boardman, Oregon produces biofuels and chemicals from wood and other ag wastes. ZeaChem was also awarded credits. READ MORE