Vestas Jobs Threat Pressures Obama to Extend Tax Break

Vestas Wind Systems A/S's threat to fire 1,600 workers in the U.S. undermines President Barack Obama's goal of creating green jobs and adds to pressure on Congress to extend a tax credit that the industry relies on. The world's biggest maker of wind turbines said yesterday it will probably reduce its staff beyond the 2,335 posts it's eliminating worldwide if the U.S. doesn't renew the so-called Production Tax Credit, which expires at the end of this year. "We will evaluate it during 2012 depending entirely on how the political situation evolves," Chief Executive Officer Ditlev Engel said in an interview in Copenhagen. U.S. jobs will be scrapped "for sure" without the credit, and a decision is due "no later than the fourth quarter," he said.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

SolarRoofHook - QuickBOLT for Asphalt Shingle Roofs

SolarRoofHook - QuickBOLT for Asphalt Shingle Roofs

The QuickBOLT is THE affordable mounting solution for Asphalt Shingle Roofs. Not only is it the lowest cost system in the industry, it also maintains the fastest install time of any mounting system available. Unlike other Asphalt Mounting systems that require bulky flashing, the QuickBOLT uses a small EPDM washer and is 100% waterproof! Part # QBKit2