Tuesday
Nov202007
Fibrowatt Plant to Have Positive Economic, Tax Impact
Tuesday, November 20, 2007 at 3:52AM A decision to be announced sometime between now and the end of the year will have a tremendous impact on taxes for either Wilkes or Surry county, but the impact will be felt in both counties no matter which one is chosen by Fibrowatt. The company is considering separate sites in Surry and Wilkes counties.
The 40 to 50-megawatt plant would create 100-full time jobs. The company estimates a $1.7 million annual payroll, breaking the average annual salary down to roughly $17,000 a year, or about $8.50 an hour.
Property tax revenue from the plant itself could bring in a million dollars a year, while the economic impact of the jobs will be felt over and over, and could be responsible for untold millions of dollars in positive economic impact. Fibrowatt said that it expects to start design work next year. The plant, could be producing electricity by 2010 or 2011.
The 40 to 50-megawatt plant would create 100-full time jobs. The company estimates a $1.7 million annual payroll, breaking the average annual salary down to roughly $17,000 a year, or about $8.50 an hour.
Property tax revenue from the plant itself could bring in a million dollars a year, while the economic impact of the jobs will be felt over and over, and could be responsible for untold millions of dollars in positive economic impact. Fibrowatt said that it expects to start design work next year. The plant, could be producing electricity by 2010 or 2011.
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