Power plant may be boon to new milford economy – newstimes

“Getting it back in service would be significant,” New Milford Mayor David Gronbach said. Electricity was invented in what year “It would have a significant social and economic impact.”

A Dallas-based private-equity fund is hoping to put the site back in service and would immediately become one of the town’s highest taxpayers. Electricity icon Panda Power Funds outlined last week its plans to build a 550-megawatt electricity-generating power plant that would be fueled by natural gas. Electricity 2pm live The project, Panda officials said, would bring in 300 to 500 jobs for about 30 months during construction and 25 to 30 full-time jobs going forward.

“Every service business will benefit from the infusion of a couple hundred workers,” Gronbach said. Gas utility boston “It’s something New Milford sorely needs.”

About 20 miles down Route 67, construction had begun on an 800-megawatt natural gas-fired power plant in Oxford. Gas density conversion The project has faced significant opposition from local residents, but passed a number of approval processes with town officials promising a boost for the local economy.

New Milford’s Economic Development Director Kevin Bielmeier said the multiplier effect of construction workers spending money locally is very much needed in New Milford. Gas and supply locations He added that Panda would become the biggest contributor to the town’s tax roll, bypassing Kimberly-Clark as New Milford’s highest taxpayer.

“I think it’s unequivocally an economic driver,” Bielmeier said. Gas exchange in the lungs is facilitated by “I wouldn’t have spent the amount of time I have on this project if I didn’t think it was right for New Milford or a detriment in any way.”

According to a study done by Impact Data Source, the direct and indirect economic output of the power facility would be $2.3 billion over the first 10 years and $4.8 billion over 30 years. Gas weed It estimates $100 million in property tax revenue over 30 years.

Panda Power Fund initially presented its plan at last week’s council meeting. Gas and electric nyc It repeated its presentation the following night to the Economic Development Commission. Gas finder app That meeting was open to the public and residents peppered Panda officials for several hours with questions. Electricity vs magnetism Most of the concerns were about environmental impacts.

New Milford took over ownership of the property in 1999 after years of the previous owners not paying taxes. Gas guzzler tax Years of remediation followed and last week demolition of the buildings started. Electricity in homes Panda would pay $2.8 million for the site, which is $400,000 over the appraised value, Bielmeier said.

The purchase is not a done deal. Electricity games online free New Milford and Panda have negotiated a land option agreement that still requires a vote by the Town Council and the public. Electricity water analogy If approved, the option goes into effect for a certain amount of time during which Panda would perform studies and tests to determine if the site is feasible for its plan. Electricity 101 The town can not sell the site to another buyer while Panda performs its due diligence. Electricity meme If Panda decides not to go forward with the project, the land and any money spent up to that point goes back to the town.

Public hearings about the proposal are planned for early November at dates and locations to be determined. Gas x side effects liver A vote by town residents, also at a date to be determined, will have the final say if the project moves forward.

Konstantine Kapetanopoulos, one of the owners of The Iron Rail restaurant in New Milford, would welcome the boost in business, even if the influx of construction workers is only temporary.

“It’s only a couple of years, but I’ll take a couple of years for now,” he said. Ag gaston funeral home birmingham al “If the power plant helps to bring in new companies in the future, then it’s really helping businesses in New Milford. Gas stoichiometry practice Personally, I think it’s a good thing for New Milford. 76 gas station locations If we can put the property back on the tax roll, why not?”

Kapetanopoulos touched on perhaps the most important economic boost the power plant can have on New Milford: attracting more manufacturers to town.

Gronbach and Bielmeier beamed about the prospect of telling manufacturers considering starting up or relocating in New Milford about a 550-megawatt power plant in town.

“One of the biggest challenges we face in attracting manufacturers and other is the high cost of energy. Electricity load profile It’s a huge challenge,” Gronbach said. Electricity off “The only reason Kimberly-Clark is still in town is because they built their own (power plant).”

Bielmeier added: “Now we can say to companies, depending on the load you need, you can purchase your power directly from this plant, perhaps fixing a price for the next 30 years in your PPA (power purchase agreement.) There will be an enormous demand in the near future for energy because a lot of coal and oil plants are going to close.”

Natural gas is now the No. Gas urban dictionary 1 source that fuels Connecticut’s electricity-generating power plants. Power quiz questions Nuclear is a close second. Electricity and magnetism physics Coal and oil have largely been phased out. X men electricity mutant A large plant in Bridgeport, the last in the state is slated to close with a new natural gas plant to be built on the same property.

“Using natural gas to power a plant is a positive,” Ruth Parkins, manager of public affairs for Iroquois, said. Z gas el salvador precios “It is clean and domestically abundant.”

Marcia Blomberg of ISO New England, a nonprofit organization that oversees the wholesale electricity marketplace, said New England has enough capacity to meet the projected needs of the region, but the retirement of coal- and oil-fueled power plants leaves a questionable future.

Panda Power Funds develops, owns and operates investments in clean energy, according to its website. Gas pains or contractions It has nine natural gas-fueled power plants in Texas and Pennsylvania. B games basketball It also has a solar farm in New Jersey.

Bill Pentak, vice president of investor relations and public affairs for Panda, said he has seen the economic impact his company’s power plants have on towns. Gas jet size chart He also pointed to the “snowball effect” of the temporary workers.

“They spend money at a restaurant and that helps pay the chef and waitress and they go spend money at the local grocery store,” Pentak said. Electricity deregulation map “These numbers are incredible in terms of economic impact to an area. J gastrointest surg It’s a big boon for local businesses. Electricity jokes puns The economic impact will start in New Milford and spread out from there.”