Project Heat Could Mean 400 Million Investment For Rowan 2009: Jburchettesalisburypostcom Rowan

Project Heat could mean 400 million investment for Rowan Rowan County is apparently in the bidding for a power generating facility that would bring a huge boost to the tax base.
The Rowan County Board of Commissioners has set a public hearing for June 1 on Project Heat, which would bring an estimated $400 million in new investment. Monday night, Robert Van Geons, executive director of the Salisbury-Rowan Economic Development Commission, gave commissioners a brief sketch of the possible project. The company is seeking a longer-term incentive grant — 68 percent rebate of tax paid for 10 years. The county’s incentive grant policy calls for a rebate of 85 percent for five years. Van Geons did not name the company, but sources familiar with the project said it is the Southern Co., which owns the power generating facility off N.C. 801, Rowan County Power LLC. In 2006 Atlanta-based Southern Co. purchased the facility from Progress Energy. Rowan County Power LLC is the county’s largest tax payer, with an assessed value of over $350 million. Officials from Southern Co. have met with county officials over a year or more discussing possible expansion of the Rowan site.
Van Geons said the company also is looking at several other sites and the final incentive grant offered by the county will be a major factor in the final decision.

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