Acuity Brands, the parent company of Acuity Brands Lighting, announced that it has received a $772,000 tax credit for capital investments in production equipment. The award is courtesy of the American Recovery and Reinvestment Act's Advanced Energy Manufacturing Tax Credit program.
The tax credit program supports investment in green technologies such as energy-efficient lighting and lighting control systems. Acuity will use the credit to expand production of outdoor LED luminaires at its Crawfordsville, IN facility and lighting controls at its Wallingford, CT facility.
"We have a broad product portfolio of advanced lighting technologies that reduce the energy costs and the carbon footprint of the end user," said Vernon J. Nagel, Chairman, President and CEO of Acuity Brands, Inc., "This award recognizes our continued efforts to bring these products to market and drive substantial energy reductions in lighting energy."
Section 48C of the Internal Revenue Code details the tax credit. The US Doe ranks applications for the credit based on the potential of job creation, the impact on energy conservation, the likelihood of commercial success, and the timeline of the project.
The Acuity award is one of a number of recent funding and tax credit announcements. See the list below for links to coverage of other significant awards.