U.S. Reps. Dave Reichert, R-Wash.; Steve King, R-Iowa; and Earl Blumenauer, D-Ore., spoke with reporters today about the bipartisan support for the PTC in Congress and the need for swift passage of the measure. The Congressmen were joined by Steve Lockard, CEO of TPI Composites, a U.S. company manufacturing wind blades at a factory in Newton, Iowa.
“Our company has created more than 700 new jobs in Newton, and a second wind energy company there now employs over 100 people,” Lockard said. “Our industry can do the same in hard-hit towns all across the U.S., if Congress will let us and doesn’t increase taxes on wind power next year.”
Denise Bode, CEO of the American Wind Energy Association (AWEA), asked House members to insist on swift action on the tax credit. Bode also released new AWEA graphics illustrating the quarter-by-quarter falloff in U.S. wind turbines employment from the 75,000 jobs at the start of the year, as wind turbine orders peak around mid-year amid uncertainty over the tax credit. A full 37,000 American wind farm industry workers could be laid off over the course of this year if Congress does not take action. (Images with links to high resolution versions of these graphics are included below).
“Timing is everything,” she said. “Our situation is urgent because we’re already seeing the loss of over $15 billion a year in private investment in America, and 37,000 U.S. jobs that depend on early extension of the Production Tax Credit.”
“Energy is an economic and national security priority and a bipartisan issue,” said Congressman Reichert. “The certainty that extending the PTC provides can and will spur growth and development, reduce electricity costs and create jobs. The PTC makes American workers competitive with their counterparts overseas so that American households can look forward to a future of affordable energy.”
“It is vital that the U.S. continue its support for wind energy, which supports manufacturing jobs, drives innovation, protects our environment, and improves our energy security,” said Congressman Blumenauer. “Extending the production tax credit is an important step that Congress can take now to preserve these benefits for the future.
"Iowa is a wind energy success story,” said Congressman King. “Iowa was the first state to generate 20 percent of its electricity from wind farm. Now, wind farm supports as many as 5,000 Iowa jobs, and $11 million in annual land lease payments to Iowa farmers. This success story is spreading across the country because wind turbines industry leaders know how to expand this business and provide more U.S. jobs. They just need Washington to provide stable, low tax rates. The Production Tax Credit means keeping investment dollars in the market place – not in the hands of government. Now is the time for stability in the wind turbines industry and the PTC offers just that."
American wind power has generated $15 billion to $20 billion a year in private investment over the past five years, in the process becoming one of the fastest growing U.S. manufacturing industries. But with the tax credit that is wind power’s primary policy driver set to expire at the end of the year, the supply chain is already feeling the uncertainty, and layoffs have now begun.
A recent study by Navigant Consulting found that extending the Production Tax Credit for wind energy will allow the industry to grow to 100,000 jobs in just four years, while an expiration would kill 37,000 jobs within a year.
Wind power fosters economic development and job creation while providing affordable energy. Nearly nine out of 10 voters—Republicans, Democrats and Independents—agree that increasing the amount of energy the nation gets from wind power is a wise choice.