LORDSTOWN, Ohio (WKBN) – Lordstown has finalized a deal with a Massachusetts-based energy company for a power plant that is scheduled to be open by 2018, according to Mayor Arno Hill.
The total cost of building and financing the plant and equipment will cost $890 million for Clean Energy Future, LLC, and construction has already started.
The plant will be located on a 150-acre property off of State Route 45. Clean Energy Future President William Siderewicz says it will burn low-cost natural gas to produce enough power to supply 800,000 homes with power.
Mayor Hill said jobs will be available during the construction of the plant, as well as after it gets up and running.
“This area needs jobs. We’ll have 20 full-time jobs, once it gets up and running,” Hill said.
The other big beneficiary is the Lordstown Schools which received an immediate $500,000 from the project developer, plus $400,000 to help tear down the old elementary school.
Superintendent Terry Armstrong provided the following statement about the power plant:
“We have wonderful kids, a great staff and a supportive community. The toughest issue we have had to deal with is school finances. Due to the state funding formula our district loses over $800,000 due to being capped and tangible personal property tax reimbursements that make up nearly a quarter of our budget is also being phased out. The energy center is a game changer for us that will help stabilize our budget and help us continue to educate our students and service our school families. We are very thankful to all that were part of bringing this opportunity to Lordstown.”
Lordstown Schools Treasurer Mark Ferrara said he hopes the plant will help stabilize the district’s budget.
“We’ve had to borrow money the last four years to make our payroll,” he said.
Construction will last two years, and the power switch is expected to be turned on in the summer of 2018.