What's Next for Pampa as T. Boone Pickens Postpones His Wind Farm Project

He has vowed to make pampa the wind capital of the world but now T. Boone Pickens is putting his plans on hold.

The impact of the financial markets is now infiltrating to the Panhandle.

Boone Pickens says the credit crunch has stopped him from getting the necessary funds.

" All the wind industry has had to take a step back. It's because there's a lot of economics involved. And I assume for Mesa it's the same situation," said James Wester, a Wind Energy Expert and Amarillo Attorney.

"The whole project is going to cost 10 billion dollars. For pampa I think it will create over 1500 jobs here," said Boone Pickens at a press conference in Pampa in May.

Now those jobs won't appear as soon as thought.

But some officials in Pampa say it's actually going to help them out.

"We're looking at things that are required to support that Industry. Things like housing, quality of life issues," said Dwight Fiveash, the executive director of the Pampa Economic Development Corporation.

Dwight fiveash says this buys the city time because the city isn't ready for the influx of jobs and families that will come to pampa.

"We look for somewhere between six to 700 jobs here. Six to 700 families, you multiply one bread winner by 3.4. You have 2,000-2,500 additional population. That's good." said Fiveash.

As the city works on growing, some land owners are also impacted by the delay.

Mesa power says they have leased over 200 thousand acres between gray, roberts, hemphill, and wheeler counties.

Those landowners have signed leases allowing Mesa Power a 10 year window to build wind turbines on their land.

Some landowners will now have to wait for royalty payements from those turbines.

But Pickens says the turbines arrive in 2010 and that's when the project will begin operating.