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FOR IMMEDIATE RELEASE Teanaway Solar Reserve: An Engine for Economic Growth and New Jobs | ||||||||||
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Results of Economic Study Released
CLE ELUM, Wash., Oct. 22 /PRNewswire/ -- (WORLD-WIRE) The Teanaway Solar Reserve will inject $97.5 million into Kittitas County in the purchase of local goods and services during a three-year construction period according to projections from a newly completed economic impact study. The total development cost is estimated to run between $300-$350 million and will translate into annual sales tax revenues of $2.6 million a year during construction – representing a 13 percent increase over current county revenues. Once the project is operational, it is expected to generate between $1.5 and $1.8 million every year in property tax revenues with the following distributions:
"The Teanaway Solar Reserve will provide the local economy with a significant economic infusion both during the construction phase and for decades to come. It will create an important revenue stream for the county and family- wage jobs for the community at the same time it generates clean, renewable energy," says Howard Trott, managing director of the Teanaway Solar Reserve. The project is expected to produce 225 jobs during the construction phase and 35 permanent jobs. The projections contained in the economic study -- which was conducted by CH2M Hill, a full-service engineering and consulting firm with offices worldwide -- do not include a facility that developers are planning to locate in Cle Elum for the manufacture and/or assembly of solar panels. This facility would initially provide work for the Teanaway Solar Reserve but would remain in place once the project is operational in order to facilitate potential future solar projects in the Northwest region. The Teanaway Solar Reserve submitted an application for a Conditional Use Permit (CUP) in August 2009. The application is currently being reviewed by the county. If approved, construction is planned to begin in 2010. The 75-megawatt reserve is the largest PV solar project ever proposed for the Northwest and if built on schedule, would be one of the largest operating in the world. For more information, including links to the economic study and the CUP application, please visit www.teanawaysolarreserve.com and follow the project on Facebook. CONTACT: Meagan Walker or Dave Pringle, both of Strategies360, +1-206-282-1990, for Teanaway Solar Reserve |
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