Study: Hydroelectic storage in SW VA could reap millions for economy
A new study by a Richmond-based economics firm says a proposed hydroelectric storage project in Southwest Virginia could result in a $320 million benefit for the region while creating thousands of new jobs.
Coalfield counties such as Tazewell, Russell and Wise are being evaluated by Dominion Energy for the potential project that is now reality because of legislation passed in this year's session of the Virginia General Assembly.
These stations would pump water into turbines that would help produce electricity when there is high demand, the company said.
Among the benefits Chmura Economic and Analytics outlined in their study:2,083 jobs would be created during construction of the facility The infrastructure investment price tag would be $2 billion The annual benefit for SW Virginia is an estimated $37 million County tax coffers would hav annual deposits of $12 million Up to 50 permanent jobs would be created by the project