Wind power execs: Tax credit needed to keep jobs

June 5, 2012 - 3:35 PM
Windpower Tax Credit

FILE - In this July 14, 2009 file photo, a cluster of windmills catch the wind blowing on Stetson Mountain, in Range 8, Township 3, Maine. A group of wind power executives, meeting in Atlanta, says a stalled effort to renew federal tax credits for the industry is creating instability and financial concerns. Meanwhile, presidential aides Karl Rove and Robert Gibbs spoke with executives at their annual conference about bipartisan support for the tax credits but a tough political climate between now and the November presidential election. (AP Photo/Robert F. Bukaty, files)

ATLANTA (AP) — A group of wind power executives says a stalled effort to renew federal tax credits for the industry is creating instability and financial concerns, making it difficult to keep employees on the payroll and plan for expansion.

Meanwhile, former presidential aides Karl Rove and Robert Gibbs told wind power executives Tuesday at their annual conference that there is bipartisan support for the tax credits, but a tough political climate between now and the November presidential election makes a quick resolution unlikely.

The production tax credit has been the primary cost-saving policy for the industry. It expires at the end of the year.

Executives say extending the tax measure is not just a benefit for suppliers and manufacturers, but is a boon for an industry that employs an estimated 30,000 people.