Clean Line Energy Partners is developing a comprehensive wind energy project that promises to have economic impacts throughout the Northwest Iowa Region. NWID formally supports the project and will be actively involved with multiple strategies to see the Clean Line project implemented, as well as other wind energy projects.
The current Clean Line project design includes the following elements:
· $300 million Converter Station in O’Brien County
· $385 million of AC and DC transmission lines throughout the region
· Projected 2,000 wind turbines to support the converter station project with an estimated total capital investment of $8 billion throughout the region
· $8.3 billion total new property tax base throughout the region
New construction will bring jobs and business opportunities to the Region.
The construction phase of the Clean Line project will have significant impacts on the region for many years to come. Thousands of jobs, new business opportunities for area companies, and new money expended in the region are projected to occur over the multi-year construction phase of this project. The following estimates the impact that will be felt throughout the region.
Economic Impact: Construction—Clean Line Converter and Transmission & Wind Farms
· 2,344 direct jobs
· 14,390 supply chain, induced, and indirect jobs (jobs related to companies selling direct to Clean Line and wind farm developers, jobs related to increased sales to supply chain and jobs related to workers expenditures in the region)
· $796 million in total earnings of all workers
· $572 million in additional sales resulting from the economic activity in the construction phase
Long Term, permanent jobs will result from operating the Converter Station and the Wind Farms.
The wide-ranging impacts of the project will make a permanent mark on the regional economy. The operations phase of the Clean Line and Wind Farm project will inject significant new earnings, additional business revenues and very importantly to NWID members, new tax base. The following summarizes the impacts from the Operations phase of the project.
Economic Impact: Operations – Clean Line Converter & Wind Farms
· 193 jobs each year
· 429 supply chain, induced, and indirect jobs each year
· $620 million in total earnings by all workers over 20 years
· $696 million in additional sales resulting from the project over 20 years
· $4.0 billion in property taxes over 20 years (not including tax abatements, tax increment financing, and other incentives)
More Impacts of this Comprehensive Wind Project:
The direct and indirect economic impacts from Wind Energy can be calculated and they are very exciting. However, as with any major economic development project, there will always be impacts that can’t be calculated currently but will prove to be significant nonetheless. Some of those additional impacts could be the following:
· Local option sales tax revenues
· Additional sales and investments by landowners from land sales and leases to the wind farms
· Potential to have skilled construction workers seek permanent skilled positions in the Region upon completion of the construction phase
· Potential economic development activity due to the expansion of supply chain opportunities for regional businesses
Learn more about this Clean Line Energy project called "Rock Island Clean Line" here.