Fortescue Establishes Operations in Right to Work Arizona

Fortescue has plans to establish operations soon in Right to Work Buckeye, Arizona. This will be covered by a $550 million investment, and as a result, the company will create 40 new jobs. So this is great economic news!

From Area Development Magazine:

“The U.S. has made serious strides in attracting global investment in green hydrogen and decarbonization projects, like Fortescue’s solar and wind-powered Arizona Hydrogen facility. Fortescue is unashamedly a first-mover in this space, the world needs us to move quickly. […] I am hopeful that the Biden Administration will continue supporting the growth of the green hydrogen industry, particularly as they work to finalize the 45V green hydrogen tax credits. The current Treasury rules limit project opportunities, create investment risk, and significantly increases costs for green hydrogen production. Fortescue shares the Biden Administration’s ambitious climate goals, and hopes the Treasury will ensure early movers like Fortescue can continue investing and creating jobs here in the U.S.”. […]

“Today is an exciting milestone for the future of Arizona’s clean energy economy. […] Arizona Hydrogen strengthens Arizona’s position as a national sustainability leader at the forefront of clean energy technologies and innovation. We are grateful to Dr. Forrest and the entire Fortescue team for their commitment to Arizona, and we look forward to supporting Fortescue’s long-term success in Buckeye.”

AREA DEVELOPMENT MAGAZINE

To read the previous economic update on Right to Work states, click here.