Incentive program was expected to provide millions of dollars in tax breaks for energy projects ranging from solar to nuclear to oil shale.
“Based on what we’re seeing, companies are finding other tax incentive programs that prove more advantageous, so they bypass the AEDI,” said Harry Hansen, communications director for the Utah Office of Energy Development. “Two examples of this are both the Economic Development Tax Increment Financing and the Rural Economic Development Tax Increment Financing . They seem to provide somewhat similar incentives, but companies find those two are better suited for their pursuits.
“It’s too bad somebody didn’t use it,” Adams said when asked about the incentive. The lawmaker said he supports development of all forms of energy, including renewables and fossil fuels, but he couldn’t recall the specifics of the bill or why no one has used it. “You’d have to ask industry people. I don’t know.”