Citing weak markets, Vestas Wind Systems Tuesday announced job cuts at their facility in Pueblo. Bumping approximately 20 percent of the workforce at the tower factory, Vestas officials said the cuts are a direct result of congress failing to act on renewing the federal wind production tax credit, set to expire in December.
The layoffs follow a record year for 2012 in the U.S. and Canada wind industry, expected to soften if the tax credits evaporate. The credits equal approximately $22 for each megawatt-hour produced by wind power.
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