Let's Talk Business: Lutesville Solar Project
Last week representatives with NextEra Energy were in the area to continue work on their planned Lutesville Solar Project. The 200-megawatt utility-scale solar powered-electric generation facility that represents an investment of more than $297 million.
While the project is still in its final stages of planning and approvals, once started the benefits the investment will make in the region will start to be realized. These benefits will come in four areas:
JOBS: Roughly 217 new local jobs during construction for Cape Girardeau County which is part of 760 new local jobs during construction for the state of Missouri. Long-term the facility will have 11.5 new local jobs for Cape Girardeau County part of 29.7 long-term jobs in Missouri.
EARNINGS: More than $15.6 million in projected new local earnings during construction for Cape Girardeau County and more than $67.2 million in new local earnings during construction for the state of Missouri. Long term more than $633 thousand in new local earnings annually part of more than $1.7 million annually statewide.
OUTPUT: More than $33.4 million in new local output during construction for Cape Girardeau County with more than $131 million statewide during construction. Long-term more than $3.2 million in new local output and $7.3 million statewide annually.
PROPERTY TAXES: More than $29.1 million in property taxes in total for all taxing districts over the life of the project including approximately $23.7 million in total school district revenue for the Delta School District, and $1.4 million in total county property taxes for Cape Girardeau County.
While the project still has some final stages to clear, the impact of NextEra Energy’s planned investment in this region will be a great benefit for decades to come.