Tax break granted to Phillips 66 oil refinery in Montana
BILLINGS, Mont. (AP) — Yellowstone County commissioners in Montana have approved a tax break sought by the Phillips 66 oil refinery in Billings.
The tax break approved Tuesday is for a project that improved the refinery’s crude oil processing and sulfur recovery. The project began in 2015 and was completed in June. The project cost close to $300 million.
Officials say the project increased the refinery’s capacity to meet growing regional demand for gasoline and improved its overall safety and reliability.
The Billings Gazette reports that the project qualified for the tax reduction under a county program for qualifying new or expanding businesses.
Commission Chairman John Ostlund said the county traditionally has honored requests for the tax incentive and noted the large investment by the refinery.
Information from: The Billings Gazette, http://www.billingsgazette.com