28 Sep '12, 1pm

American Wind Manufacturers Lay Off 1,100 Workers In One Month, Citing Expiring Wind Tax Credit

American Wind Manufacturers Lay Off 1,100 Workers In One Month, Citing Expiring Wind Tax Credit

Every company shedding employees has blamed the looming expiration of the production tax credit for wind, which is set to lapse at the end of this year. The latest announcement comes from LM Wind Power, a manufacturer based in North Dakota. The company said yesterday that it will lay off lay off 345 workers because of lagging demand for product. The company also cited the production tax credit, which Congress has failed to extend past 2012. “It is important to emphasize that the challenging situation in the U.S. wind market is not specific to LM Wind Power, nor to Grand Forks manufacturing facilities,” said the company in an announcement. “The whole sector is affected.” So far this year, companies in Arkansas, Colorado, Florida, Iowa, Kansas, North Dakota, Ohio, and Pennsylvania have all cancelled projects or laid off workers. In the last month alone, more than 1,334 manuf...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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