SIEMENS LAYOFFS: Future Of Tax Credit To Blame
Siemens Energy Incorporated says it’s laying off more than 400 Iowa workers.
The company says uncertainty surrounding the future of the Wind Energy Tax Credit and the sluggish economy are to blame.
Siemens makes blades for the wind energy industry. It is Fort Madison’s largest employer.
The lay-offs are scheduled to take effect in mid-November.
Iowa’s congressional delegation is currently trying to reach a compromise with those opposed to renewing the tax credit.