Officials secure $700M in financing for power plant in Jackson Township
JACKSON TOWNSHIP – Officials have secured $700 million in financing to build a natural gas-fired power plant in Jackson Township, 6 News learned Tuesday.
Maryland-based Competitive Power Ventures is calling it a significant milestone for the project.
The company promises to pump jobs and money into the Cambria County region.
The CPV Fairview Energy Center will go up near Vinco, just off Route 271 in Jackson Township, on a site that used to be home to a petroleum storage facility.
It's presently the site of a salvage yard that is being cleared away right now.
This summer, the former brownfield site will be taken care of and then this fall construction on the natural gas power plant is expected to begin.
"Jackson Township fully supports the CPV Fairview Energy Center and recognizes the critical economic benefits it brings to our community," said Bruce Baker, chairman of the Board of Supervisors of Jackson Township. "We're grateful to CPV for not just building a state-of-the-art generation facility, but also becoming an integral part of our community."
At peak construction, CPV said between 300 and 500 workers will work on site. All construction contracts have been completed and CPV says several local contractors will do the work.
CPV said its Fairview Energy Center is expected to be operational in early 2020, employing about two-dozen people with full-time jobs. Total salaries and benefits are expected to be between $3 million and $4 million.
“One of my top priorities as state representative for the 72nd Legislative District, which includes Jackson Township, has been revitalizing our economy that took a big hit with the loss of coal mining and manufacturing jobs starting in the 1980s,” said state Rep. Frank Burns.
“This project takes advantage of abundant natural gas to create local, cleaner electricity; puts 30 acres to productive industrial use; and creates hundreds of good-paying construction jobs as well as two dozen permanent ones. That’s a winning trifecta for our area.”