In Hillcorp’s agreement for the purchase of interests in four of BP’s North Slope gas fields it was cited that the oil tax credits were major incentives in the deal.
Hillcorp’s Manager for External Affairs Lori Nelson explained.
Nelson: “Its important to note that the efforts and the position of Senate Bill 21 certainly make this an attractive investment for us, retention of that is certainly critical, not only for Hillcorp but for further development of the North Slope.”
Many opponents of the oil tax credits in SB 21 state it is giving big oil companies tax breaks and Alaskans are not seeing any results.
CEO Ron Hyde of PRL Logistics said otherwise.
Hyde: “From a small business point of view, Senate Bill 21 made a difference, we saw it it was huge in terms of what it did for our company and I think its really important for people to understand what that means to small business and Alaska business because it has given a lot of these companies a reason to come spend money in Alaska responsibly and develop things responsibly.”
Recently an ad by Vote No on 1 features local business Big G Electric which has been able to double its work force since the oil tax reform was passed according to owner Bruce Gabriel.