Tax credit helps Carrier expand production
Carrier was recently provided with a $5.1 million Qualifying Advanced Energy Project tax credit to expand production at its Indianapolis facility to meet the demand for its high-efficiency gas furnace line. Carrier was one of 12 domestic manufacturing businesses to receive a Project Credit, which was enacted by the American Recovery and Reinvestment Act of 2009 and provides investment tax credits to build U.S. capabilities in clean energy manufacturing.
Carrier was presented the Project Credit allocation at the recent inaugural American Energy and Manufacturing Competitiveness Summit in Washington, D.C., which hosted leaders from industry, academia, labor, national laboratories, government, and media to discuss energy and manufacturing challenges affecting the U.S.
“I am extremely proud of the hardworking Hoosiers across the state who are contributing to the continued growth of America’s manufacturing sector,” said U.S. Sen. Joe Donnelly (D-IN). “The tax credits will help these companies invest further in more good-paying manufacturing jobs right here in Indiana. When we invest in American manufacturing, we support a strong middle class.”
John Gibbons, director of residential products and platform strategy at Carrier, said the program has been instrumental in helping Carrier’s Indianapolis manufacturing facility accelerate production of its high-efficiency gas furnace line.
“The investment is helping us meet demand for our new condensing gas furnace line, which offers at least 92 percent annual fuel utilization efficiency, while also supporting our long-standing commitment to sustainability through improved energy efficiency and performance,” he said.