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Costs and Benefits of Noble Chateaugay and Bellmont Windparks: Issues for County of Franklin IDA's Consideration

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Publication Date: June 2007

Publisher(s): Center for Governmental Research Inc.

Author(s): Rochelle Ruffer; Kent Gardner

Funder(s): Franklin County Industrial Development Agency

Funder(s): Franklin County Industrial Development Agency

Topic: Economics (Economic policy, planning, and development)
Energy (Renewable energy sources)

Keywords: Economic Analysis; Public Finance

Type: Report

Coverage: New York

Abstract:

New York’s Franklin County Industrial Development Agency (IDA) asked CGR to conduct an economic impact study of an 86-tower wind farm project proposed for two towns. CGR assessed the number of jobs the construction phase will generate (332 jobs, direct and spillover), construction-related job earnings ($16 million) and the number of jobs that will be involved in the annual operation of the wind farm (<30 jobs, direct and spillover). CGR also estimated the developer’s annual net revenue from the proposed wind farm in order to provide information to the IDA for the negotiation of a payment-in-lieu-of-tax (PILOT) agreement.