Article Summary –
LS Cable & System has been granted a $99m investment tax credit under Section 48C of the Inflation Reduction Act. The tax credit will be utilized for the company’s ‘green’ manufacturing business expansion in North Carolina. The company is a global power and telecom solutions provider that is contributing to the development of renewable energy sources.
LS Cable & System Receives $99 Million Investment Tax Credit under the Inflation Reduction Act’s Section 48C
LS Cable & System, an industry-leading cable manufacturing company, is set to benefit from a substantial $99 million investment tax credit under Section 48C of the Inflation Reduction Act. This major financial boost will bolster the company’s operations and pave the way for economic growth.
LS Cable & System’s strategic investments and tireless efforts to stay abreast of industry trends have been rewarded with this substantial tax credit. The company’s focus on technological innovation and enhancement of manufacturing capabilities is poised to receive significant reinforcement, driving them further towards industry dominance.
This generous investment tax credit under Section 48C of the Inflation Reduction Act showcases the government’s support for businesses making strides in technological advancement and economic growth. LS Cable & System’s recognition under this scheme underscores its position as a leading cable manufacturing company in the global market.
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