May 19, 2011
Redmon's Bill Paves Way for Hydroelectric Power Plant at West Quincy
JEFFERSON CITY, Mo. - The Missouri General Assembly has given final approval to legislation that will pave the way for the construction of a hydro-electric power plant along the Mississippi River at West Quincy. Sponsored by Rep. Craig Redmon, R-Canton, the legislation (HB 737) was approved by the Missouri House by a vote of 147-0.
Redmon's bill modifies provisions of the enhanced enterprise zone program to allow renewable energy generation zones to be designated as enhanced enterprise zones. The change will allow locally assessed improvements to real property to be exempted from real property taxes for up to twenty-five years. Redmon said the change will provide the incentive necessary to bring the hydro-electric plant to the area.
"Being a freshman, I never expected to pass a bill of this magnitude, but this is something I am proud to bring back to the district," said Redmon. "This hydro-electric project will create 230 construction jobs, 5 permanent jobs, an estimated $60,000 in annual tax revenue for the local school district and Marion County, and costs the state absolutely nothing. In this shaky economy, and energy costs as high as they are, it is time that we take advantage of the major natural resource right at our doorstep."
HB 737 currently awaits the governor's signature. Once signed by the governor, the legislation will go into effect August 28.