citizens of the Cedar Valley address the proposal for a coal burning power plant

Waterloo, Iowa

City Council meeting

May 7, 2007




c e d a r v a l l e y s p e a k s

Group 6

3. Steve Dusk, 10 West 4th ST. Waterloo

Good Evening, I’m Steve Dusk Greater Cedar Valley Alliance 10 West 4th ST. Waterloo. I’m also a Waterloo resident, and I’m here to speak in favor of the Elk Run Energy project annexation and rezoning. The Alliance does endorse and recommends this project to the City Council. The Alliance board of directors along with other Alliance organizations such as the Chambers, Waterloo Industrial Development Association, Waterloo Development Corporation, …have all endorsed the project. The endorsements are offered on the basis of the economic benefit of this project to be realized by the business community and laborers and workers throughout the region over the long term. It adds capacity to the regional grid for growth and stability of electric energy supply.

It’s clearly the largest capital investment in this area. We did indeed ask an economic scientist from Iowa State University to measure specifically the economic benefits that would accrued from this project and that’s what has been reported several times this evening. Indeed, the highlights of that: $25.8 million per year in benefits when the operation begins. Not including any benefits from the sale of electricity or fuel purchases, which are very significant by themselves. And that goes across all the various types of business …business segments across the metro area. We do expect a total of 331 jobs to be created from direct and indirect activity from the project, with labor income to be over $17 million per year. Direct employment of an estimated 108 people in management and technical positions adds depth and disposable income into the retail and service markets across the area. It also adds depth and income to the Waterloo and Cedar Valley workforce. …the total tax payments are estimated to be in excess of $2 million per year to local governments as a result of this project. . Construction benefits will be significant as well, with over 1500 jobs over the construction period, earning and spending over $200 million.

Elk Run energy is planning their site and including biomass fuels stocks, and planning their site well, and they have they’ve shown every indication of being a top-flight developer of projects. And now with Dynegy, they further build the reputation for solid ongoing operations. Cedar Valley Progress had the opportunity to examine a number of plants across Iowa…..and now with dynergy…had the opportunity to examine a number of plants around Iowa and came back and told us that indeed, if we were to accept this proposal with the most modern technology that they are proposing to us that we would in fact not see a degradation in property value…that we would in fact see the kind of economic benefits that we’re talking about this evening. So with that we would encourage the city council to say YES to both annexation and to rezoning.