$1B Harrison Power Plant to Donate $31M to Schools, County
CADIZ, Ohio — The developer of a $1 billion power plant here has agreed to donate $31 million over 15 years to public schools and local government entities in Harrison County.
The agreement with Harrison Power LLC, the entity created by privately-held EmberClear Corp. of Houston to build the 1,050 megawatt natural gals-fired electric power generation facility, was announced last night by Nick Homrighausen, economic development director for Harrison County, during a meeting with the Harrison Hills City School District and local officials.
The plant will be built at the Harrison County Industrial Park and generate enough electricity to power one million homes, according to EmberClear. Several pipelines operated by Dominion East, Spectra, Energy Transfer and Columbia are located within a few miles of the site. In addition, several fractionation and gas distillation facilities operating in Harrison County have plans to expand production, the company says.
The power plant would generate 600 construction jobs over three years and 30 permanent jobs once it begins operations in 2021.
Harrison County commissioners provided a 15-year property tax exemption as an incentive to attract the $1 billion investment.
The payment in lieu of taxes — Pilot — agreement announced last night obligates the Harrison Power LLC to contribute to local political subdivisions in return for the property tax break. Payments in the amount of $2.5 million are due in each of the first two years of the plant’s operation, and then $2 million each in the third through the 15th year.
“This is a good plan for our company, and it is good for Harrison County and its residents – both in the near future and long-term,” said Raj Suri, CEO of EmberClear, in a prepared statement.
Construction of the plant is expected to begin this fall, with payments beginning in 2021.
Of the $31 million to be donated by Harrison Power LLC, 45% – almost $14 million – will go to the Harrison school district, which, by law, agreed to the tax abatement. Forty-four percent of the money – over $13 million – will be divided among all of the villages and townships in Harrison County, to be used for the purchase of equipment or for other capital expenses. The remaining 11% of the payment will go to the county, in part to support further economic and community development activities.
“Even though the plant will be located in Cadiz, all political subdivisions will benefit financially from the agreement,” said Paul Coffland, president of the Harrison County Board of Commissioners. “While we know tax exemptions like this are common in Ohio, we believe the Pilot contributions we negotiated are perhaps the best in the state for a plant of this size.”
Pictured at top: Rendering of project.
Copyright 2024 The Business Journal, Youngstown, Ohio.
