South Dakota Approves Tax Rebates for Invenergy Wind Farm Project
What happened
South Dakota’s Board of Economic Development authorized up to $6.1 million in tax rebates for the state’s largest wind energy project. The project, a $750 million, 333-megawatt wind farm, was approved for Philip Wind Partners, a subsidiary of Invenergy. Separately, the board approved a sales tax rebate of up to $8,845.87 for OmegaQuant Analytics under the New Frontiers program.
From kfgo.com
Why it matters
The authorization attracts large-scale infrastructure investment to South Dakota. The project is expected to create about 200 construction jobs and 12 long-term jobs. Over 30 years, the company anticipates paying about $50 million in property taxes to the state.
From kfgo.com
Who's involved
- InvenergyBuilding the $750 million wind farm project in South Dakota.
- South DakotaProviding regulatory authorization and tax incentives for the wind farm.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- InvenergySpeculative
Invenergy might see reduced costs or increased revenue due to the secured tax rebate and state approval.
- South DakotaSpeculative
South Dakota could see increased property tax revenue from the large-scale infrastructure project.
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The entities involved
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Invenergy
American clean energy company
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South Dakota
state of the United States of America