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 Program Name: County PILOT Agreements Awarding Agency: Monongalia County Commission Type of Subsidy:
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.