The Pennsylvania Senate approved a state tax credit for a company to build a multi-billion dollar petrochemical plant in Beaver County. The measure, which was approved June 29 by a vote of 43 to 6, must still receive House approval.

The measure would place a plant operator in the Keystone Opportunity Zone, which eliminates specific state and local taxes for a specific time. In addition, tax credits would be sold to companies doing business with Royal Dutch Shell in the state to further enhance the attractiveness of the facility and bring in business.

Tax credits would begin in 2017. Although the full amount of the tax credits and their length were not included in the Senate draft, they are estimated to include an annual $66 million tax credit for a 25-year term.

In March, Royal Dutch Shell secured an option to build an ethane cracker in Monaca in Beaver Count. If the option is exercised, the location will house a $2.5-billion cracker that would be Shell's fifth in North America.

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