WDAY.com

WDAZ: Your Home Team

Published October 10, 2012, 05:39 PM

Developer Says Oil Tax Break Will Pay for Itself in Economic Growth

A developer believes a proposed oil tax exemption to help construction of an oil refinery would pay for itself through increased economic growth.

By: WDAZ Staff Reports, WDAZ

A developer believes a proposed oil tax exemption to help construction of an oil refinery would pay for itself through increased economic growth.

Today, a legislative committee endorsed the tax break. It would cut the state tax in half on oil that's processed in a North Dakota refinery. The North Dakota Legislature will debate the proposal next year. Mel Falcon of Williston has been working to build a new oil refinery near Williston. He says a three- to five-year oil tax break would help refinery projects get going. The incentive would also benefit North Dakota's existing Tesoro oil refinery at Mandan.

Tags: