Commissioners Grant Tax Break for Lordstown Project
WARREN, Ohio – The Trumbull County Board of Commissioners this morning approved a 15-year, 100% abatement of real and personal property taxes for Clean Energy Future LLC to build a natural gas-fueled electricity generation plant in Lordstown Village.
Lordstown Village Council last week approved the incentive package including the abatement for the project, which will be built on Henn Parkway in the Lordstown Industrial Park. Trumbull commissioners approved the abatement following a public hearing this morning prior to their weekly meeting.
The project calls for an investment of up to $580 million, including $14 million to $17 million in new construction and $510 million to $556 million in machinery.
A year ago the village planning commission voted down a zoning change that would have allowed the Boston-based company to build on a 57-acre site on Salt Springs Road.
The proposed plant would have a generating capacity of 800 megawatts of electricity, enough to power 500,000 households.
Building the plant is expected to create 450 construction jobs over three years. Once built, the plant is expected to employ 26 workers full time, with an annual payroll of about $3.4 million.
Copyright 2024 The Business Journal, Youngstown, Ohio.
