1.9 billion dollar investment coming to Iowa
Wed, 08 May 2013 21:46:07 GMT —
Wednesday afternoon Iowa Governor Terry Branstad and Lt. Governor Kim Reynolds announced the largest economic investment in Iowa history.
Mid American Energy will invest 1.9 billion dollars in building a new series of wind farms around the state.
The goal is to have 656 new wind turbines across Iowa by the end of 2015.
Governor Branstad says that Iowa is a national leader in renewable energy.
The project will mean about 490 construction jobs and 38 permanent jobs in the state.
A representative from Mid American Energy spoke at the afternoon press conference and said that Iowa's production tax credits made it possible for the company to expand in Iowa.
Several counties are under consideration for the project.
Branstad also said that the counties that are selected can expect to see significant tax revenue from the farms.
More than 360 million dollars in additional property tax revenue for the state will be generated by this project over the next 30 years.