Wind Project Study Indicates Substantial Economic Benefit For Somerset County

An opinion piece in the Salisbury Daily Times, discusses the findings of a study performed by the Jacob France Center which indicate substantial economic benefits for Somerset County should the Great Bay Wind Energy installation move forward. From the opinion piece,

A little more than two years ago, the Jacob France Institute at the University of Baltimore was commissioned to evaluate the projected effects on employment, labor income and output, and the fiscal effects at the county and state levels. This was done using a fact-based, unbiased model developed by the University of Minnesota, which is the gold standard for economic impact analysis and is used in a variety of industries in analyzing large scale investments

Our analysis found construction of the full project will create more than 500 jobs in Somerset County (and more than 765 overall in Maryland), and that there will be more than $50 million in spending in Somerset County alone during the construction phase.

The study also concluded during the 30-year life of the wind project, Somerset County will receive more than $44 million in new tax revenues — money the county could use to improve schools, fix roads, offset residents’ taxes or fund other programs in the community.

The Jacob France Center study can be found here.

 

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