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Parnell seeks tax credits to state refineries

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News,Business

JUNEAU, Alaska (AP) — Gov. Sean Parnell is putting forward a proposal in helping the state's three refineries provide lower cost fuels to in-state customers.

The Fairbanks News Miner reports (http://bit.ly/1lAiymY) Parnell's proposal is new tax credits to the three refineries for infrastructure upgrades and investments targeting high production.

The proposed tax credits may also be used for developing low-sulfur fuels as well as expand storage capacity.

Parnell's proposal was in a news release from his office on Monday.

Alaska's three remaining refineries are located in Valdez, North Pole and Nikiski.

The proposal comes on the heels of Flint Hills Resources announcing February it plans shuttering its North Pole refinery with 80 employees losing their jobs.

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Information from: Fairbanks (Alaska) Daily News-Miner, http://www.newsminer.com

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