Volkswagen’s auto assembly plant project in Chattanooga has received a $150 million tax credit as part of the federal government’s stimulus package.
Alstom Power’s project to make steam and gas turbines in Chattanooga also was awarded a $63 million tax credit.
In addition, Wacker Chemical Corp.’s planned $1 billion polysilicon plant in Bradley County is receiving a $128 million tax break.
In order to foster investment and job creation in clean energy manufacturing, the American Recovery and Reinvestment Act included tax credit for investments in manufacturing facilities for clean energy technologies.
About $2.3 billion in tax credits were awarded today.