Lordstown approves 100% tax abatement for power plant project

LORDSTOWN

The incentive package for a Boston company’s $800 million power plant fueled by natural gas moves forward after unanimous approval today by Lordstown Village Council.

Clean Energy Future LLC will be given a 100 percent, 15-year tax abatement on its real and tangible personal property. The project is slated to begin this fall, with the hiring of about 450 workers over a three-year construction period, and be completed by May 2018. The completed plant will have about 26 employees, generating $3.4 million in annual payroll.

“It’s a great day for the whole Valley – and us,” Mayor Arno Hill said.

The Trumbull County commissioners will vote on the incentives at 10 a.m. Wednesday, noted Commissioner Frank Fuda. “The mayor and the village council did a great job,” he said.

Fuda said the commissioners spoke with the Lordstown school board earlier today, whose members are satisfied with the company’s contributions.

“They’re donating a lot to the school,” he said.

The school district will receive $1 million a year for the first five years the plant is in operation; $1.25 million for the next five years; and $1.5 million for the five years after that. The company is donating that money to the district.

Read more on the project in Wednesday's Vindicator or on vindy.com.