A boost to our area's economy is expected in the near future with new wind farms in the works.
Our panhandle will be seeing hundreds of new jobs and millions of dollars in revenue with several wind farms set to be constructed. And they're expected to boost income for area residents as well.
Tri Global Energy President Tom Carbone says, "We're essentially going to be pulling clean wind energy from the panhandle, and to service customers in the large metropolitan areas of Texas. Dallas/Fort Worth, San Antonio, Houston, Austin, etc..."
More than $150 million will be generated in wind power sales revenue every year. Carbone says the wind turbines will also provide electricity for oil and gas activity.
Cantwell says, "It's going to be a great boost to the economy overall. Of course, we will have an influx of construction workers which will spend money in not only Plainview, but the surrounding towns. You know, buying meals, supplies, shopping in the stores which generates sales tax."
Tax revenues generated will support the county and schools as well as bring income to landowners involved with the projects from royalty fees. Cantwell says, "Their crop production has been down the last two years. And the way it's looking right now, it may not be any better this year. But if they can get some wind turbines, they'll get revenue off that, which will boost their income. Which might encourage, you know, to invest in other things or spend money in other projects".
The goal is to turn the profits from the wind farms into new homes, businesses, and oil fields. Construction of the wind farms is expected to start by the end of next year.