Money Management

EDA votes to approve Brooke County power plant loan

Brooke County, W.Va. (WTRF) – The West Virginia Economic Development Authority has approved a loan for the Brooke County Power Plant.

$ 5 million has been guaranteed to go ahead with the project.

Now, investors will be comfortable moving forward with the project because if the state withdraws the permit for the plant, WV would be on $ 5 million.

The 800-megawatt power plant would be the first natural gas-fired power plant in the state of West Virginia.

Brooke County Commissioner AJ Thomas said, “The potential impacts of this, we don’t even know everything that could benefit in Brooke County yet, we are not competing against each other, we respond to demand, that would allow you to flip the switch and have easy access to electricity on the grid and whatever it is, it’s good to have a balanced power grid, especially in a state that is a key electricity producer in the country. “

Thomas says it would cost $ 1 billion to build the plant, but bring $ 100 million in payroll to workers in that region.

Once the ground is thrown out, Thomas says Brooke County will receive a payment of $ 1 million that the county can make to the 911 radio system and / or the senior center that needs help.

State Senator for the 1st District, Ryan Weld, said, “Brooke County School Board will receive over $ 100,000 per year through this project, a $ 3.5 million investment in the district. Brooke County utility that would expand services to thousands of residents in more rural areas of Brooke County, 1,000 construction jobs to build the plant, full-time jobs once it will be built … “

The foundation stone of the plant is expected to take place within the next two years and once construction begins, construction would take 2-3 years.

Click on to learn more about the proposed plan.