Peak Energy granted tax abatement

BY BRUCE BRANUM

The Greenville Standard

 

Peak Energy Corporation (PEC), an energy company which is planning a $65+ million project in Butler County, was granted a statutory tax abatement of sales, use and property taxes valued at $5.6 million over a 35-year period by the Greenville City Council at its meeting on Dec. 21.

The project will consist of the development and operation of a 200,000 solar panel electrical generation facility on a 550-acre site which is to be located on a 50/50 basis within Greenville city limits and unincorporated Butler County.

At the council meeting, Mayor Dexter McLendon introduced Resolution 2020-72, a resolution granting a tax abatement to PEC, and called on David Hutchison with the Butler County Commission for Economic Development (BCCED) to present the basics of the project.

Hutchison stated the current property taxes on the 550-acre site are $7,600 per year and the project with its investment and its associated improvements will increase significantly.

According to Hutchison, Butler County School System (BCSS) will receive $180,000 in new revenue the first year of operation by PEC. The average revenue over 34 years will be approximately $109,807. Over the 35-year life of the project, the BCSS will receive approximately $4 million.

The project will only create 2-3 permanent jobs, but there will be approximately 150-250 construction jobs over a 9-12 month period with hotels, hardware stores, food and other associated businesses benefitting from the project.

Hutchison added the project committed to supporting the BCCED Revolving Loan Fund (RLF) with an annual contribution of $30,000 for 20 years.

The RLF will focus on assisting Butler County small businesses with less than 25 employees with access to capital.

Councilmember Joseph West moved to adopt the resolution with a second by councilmember Ed Sims and it passed unanimously.

PEC will next seek a tax abatement from Butler County at the commission meeting on Jan. 12

 

 

 

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