Jun 05 - U.S. Newswire

Pennsylvanias top economic development official today said Governor Edward G. Rendells Energy Independence Strategy would keep the commonwealth ahead of the pack in the clean and renewable energy sector, one of the fastest-growing segments of economic development and job- creation.

Pennsylvania is among the top destinations for cutting-edge projects in areas like solar and wind energy technologies, but other states and other nations are stepping up to compete with us, said Department of Community and Economic Development Secretary Dennis Yablonsky. California has made more than $3 billion available for solar development and Iowa is investing $1.3 billion in mostly biofuels production. Smaller and less populated states, like Rhode Island and Wyoming, have made as much as $400 million available for alternative energy development.

At a meeting of the Alternative Fuels Renewable Energies Council, or AFREC, Yablonsky called for passage of Special Session House Bill 1, which is the vehicle for Governor Rendells energy independence strategy. AFREC includes members who are high-level corporate representatives and executives who manufacture, distribute, or use alternative fuels.

H.B. 1 makes important investments to jump-start Pennsylvanias growing clean-energy sector, right now, Yablonsky said. Companies are making decisions on where to create jobs, right now. We should not be satisfied with playing catch-up - or risk missing the boat entirely. We should be leading the way and creating jobs for our men and women.

The Governors Energy Independence Strategy is projected to add 13,000 new jobs and attract $3.5 billion in new investments to the states economy, Yablonsky said.

Yablonsky said the $850 million investment called for in Special Session House Bill 1 will support a broad array of activities that include:

-- $250 million for businesses to invest in site acquisition, preparation and infrastructure for clean energy projects,

equipment, working capital and venture capital for new

technologies and start-ups.

-- $30 million for grants and loans for wind projects and

development of wind energy manufacturing facilities and grant

to municipalities that host wind energy facilities.

-- $200 million for consumer rebates and production incentives for

solar energy manufacturing companies.

-- $56 million to be allocated through the Ben Franklin Technology

Partners for early-stage clean technology.

We know that investing in our future works, said Yablonsky. Since 2003, the commonwealth has attracted more than $1 billion in private economic investments and will create some 3,000 green-collar jobs in rapidly growing industries such as wind and solar power, biofuels manufacturing, and other areas supporting these sectors.

CONTACT:

Steve Weitzman

(717) 783-1132

SOURCE Pennsylvania Department of Community & Economic Development

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