Economic Impact on Michigan of Construction of Consumers Energy's New Clean Coal Power Plant Estimated at $1.2 Billion
Posted on: Tuesday, 27 November 2007, 06:00 CST
JACKSON, Mich., Nov. 27 /PRNewswire/ -- The direct and indirect statewide economic impact of construction of Consumers Energy's proposed new clean coal plant near Bay City is estimated at $1.2 billion over a seven-year period, according to a study prepared at the utility's request.
Consumers Energy previously announced that as part of its Balanced Energy Initiative it selected its Karn/Weadock Generating Complex in Hampton Township as the site for construction of an 800-megawatt clean coal power plant. The new plant is part of the utility's Balanced Energy Initiative, which it has submitted for approval to the Michigan Public Service Commission.
The economic impact study prepared by Development Research Partners lists the following economic benefits for Michigan and the Tri-County area (Bay, Midland and Saginaw counties) during the seven-year construction period of the new power plant:
-- Total construction jobs of 1,800 at peak; -- Statewide direct and indirect impact of approximately $1.2 billion; -- This includes Tri-County direct and indirect impact of nearly $500 million.
The report also shows a direct and indirect impact of more than $67 million on a statewide basis in a typical year once the plant enters operation. This includes a Tri-County impact on a direct and indirect annual basis of more than $45 million. The new plant is expected to add at least 80 new employees to the existing workforce of 370 employees now employed at the Karn/Weadock Generating Complex.
Consumers Energy, the principal subsidiary of CMS Energy , provides natural gas and electricity to nearly 6.5 million of Michigan's 10 million residents in all 68 Lower Peninsula counties.
For more information about Consumers Energy, visit our Website at http://www.consumersenergy.com/
Consumers Energy
CONTACT: Media, Jeff Holyfield, +1-517-788-2394, Dan Bishop, +1-517-788-2395; Kelly Farr, +1-989-891-3451; Investment Analysts, CMS Energy InvestorRelations, +1-517-788-2590, all for Consumers Energy
Web site: http://www.consumersenergy.com/
Company News On-Call: http://www.prnewswire.com/comp/203850.html
Source: PRNewswire
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