The Pike County Council has approved a $110 million renewable energy project.
Economic leaders say the coal industry is facing a downturn as Pike County’s largest employer (AES Indiana, formally Indianapolis Powers & Light) has announced their exit from the coal industry in 2025.
On Tuesday, the Council voted to approve the Confirmation of the Economic Revitalization Area for Invenergy’s Crosstrack Solar Project in the Jefferson Township.
The Crosstrack Project is a 130-megawatt project with a capital investment of $110 Million.
There will also be 100+ construction jobs, but those will only be realized during project construction.
The project is expected to bring in over $1 million in tax revenue each year.
Leaders say the revenue is greatly needed and will offset the loss in assessed value from the decreased value in coal production facilities.
The Pike County EDC says this project is not about jobs; it is about increasing the assessed value of the county.