June 25, 2012
Contact: University Relations
A new Jacob France Institute study on the economic impact of a wind energy installation proposed for Somerset County estimates hundreds of construction jobs, millions of dollars in economic activity, and long-term sustainability goals that are in line with the State of Maryland's plan to generate 20 percent of its energy by renewable means by the year 2022.
The Great Bay Wind Energy Center commissioned the study by the University of Baltimore's Jacob France Institute on the economic impact of a wind energy installation proposed for Somerset County. The center, as currently proposed, calls for the installation of 65 wind turbines with a maximum generating capacity of 2,300 kilowatts each, or 149.5 megawatts in total.
JFI said the economic impact of the project would occur in two phases: the initial construction phase; and, after completion of the project, an operational and maintenance phase. The report evaluates the effects on employment, labor income, output and the fiscal effects at the county and state levels. Four separate analyses to assess the impact of both phases of the project within the two regions of analysis are included in the report, which is available here.
Major findings of the report include:
Adam Cohen, vice president and founder of Pioneer Green Energy, LLC, developer of the Great Bay Wind Energy Center, said, "Over the past three years, we have been working closely with Somerset County and the State of Maryland to bring this much needed investment to the region. The Great Bay Wind Energy Center is a two-fer: a major opportunity to secure jobs, investment and tax revenue in the county and across the state, and a huge step forward in achieving Maryland's clean energy goals. We are excited that this study by one of the leading economic analysis institutions in Maryland concurs with our view—this is the right project, at the right time for Somerset County and the state."
Learn more about the Great Bay Wind Energy Center.
Learn more about Pioneer Green Energy.
The University of Baltimore is a member of the University System of Maryland and comprises the School of Law, the Yale Gordon College of Arts and Sciences, the College of Public Affairs and the Merrick School of Business.