Basic Search  |  Geographic Searches  |  Advanced Search | Megadeals

Subsidy Tracker Individual Entry

Company: Longview Power Plant
Parent Company: 
Subsidy Source: local
Location: West Virginia
City: Maidsville
County: Monongalia
Address: 1375 Fort Martin Rd
Zip: 26541
Project Description: The proposed project includes a 1,200 MW natural gas-fired combined cycle turbine power plant and a 70 MW utility scale solar power facility.
Year: 2019
Subsidy Value: $674,000,000
Subsidy Value in 2023 Dollars: $805,822,778
Program Name: County PILOT Agreements
Awarding Agency: Monongalia County Commission
Type of Subsidy: 
MEGADEAL

Number of Jobs or Training Slots: 628
Capital Investment: $3,100,000,000
Source of Data: (click here)
Notes: Year is year when incentives were announced. The subsidy value is the total estimated value for two PILOT agreements between Longview and the Mononglia County Commission for two power plant projects. The subsidy value estimates are based on the capital investments in each project ($2.2 billion and $1.1 billion, respectively), an average annual depreciation rate of 2.76% on public power utilities in West Virginia, and Class 3 Mon County property tax rates (2.08% in FY20). The estimated tax abatement for the first Longview Power PILOT agreement is $457 million compared to $217 million for the second proposed PILOT agreement. Altogether, the property tax abatement over 30 operating years for both PILOTs is estimated to be $674 million. These estimates should be taken with caution because the assessed valuations of the property could vary significantly depending on the depreciation rate used for the property and capital improvements over time. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.