– Texas-based fuel company Nacero Inc. today announced it is making the single biggest economic investment in the history of Luzerne County by building its latest facility in Newport Township, a move made possible by a 2020 law introduced by state Rep. Aaron Kaufer (R-Luzerne), who participated in today’s news conference announcement.
“This truly is historic news for Luzerne County,” Kaufer said. “This investment is going to create thousands of construction jobs and hundreds of permanent jobs for local workers.”
The $6 billion investment will bring approximately 4,000 construction jobs to the area. The completed facility will employ approximately 450 workers.
The new manufacturing facility will produce tens of thousands of barrels per day of low- and zero-lifecycle carbon footprint gasoline made from natural gas and renewable natural gas. The facility’s competitively priced, zero-sulfur gasoline will be more environmentally friendly and will be useable in cars and trucks without requiring any modifications.
“This news is good for our economy and our environment,” Kaufer said. “We can have good-paying jobs and a cleaner environment at the same time with this investment.”
This historic investment is made possible in large part due to a new state law introduced by Kaufer. His House Bill 732
was approved by the state House and Senate in 2020 and signed into law by the governor as Act 66 of 2020.
Kaufer’s law established the Local Resources Manufacturing Tax Credit to spur the kind of investments like the one announced today. The program provides a tax credit of 47 cents per unit of dry natural gas purchased by an eligible company and the total amount of tax credits to be provided to all applicants is capped at a little more than $26.6 million. The tax credit program is applicable to dry natural gas bought beginning Jan. 1, 2024.
Nacero plans to begin work on the new facility in 2022-23. The project is estimated to be completed sometime in 2026-27.
More information about Kaufer is available at RepKaufer.com
and on Facebook at Facebook.com/RepKaufer