Members of the Economic Development Corp. of Jefferson County who were unable to attend the Sept. 20 announcement relating to the natural gas to liquid fuel plant planned for Jefferson County were briefed on the announcement, and what it will mean for the county’s economy Tuesday.
The group, commonly called the tax board because they administer the funds collected from a three-eights cent sales tax that was adopted for economic development about 10 years ago. That tax has since come off the books but in 2016, the board made a decision to commit more than $3 million to buy land and make improvements to a large parcel in northern Jefferson County where the plant will be located.
During a meeting of the board Tuesday, Chairman Scott McGeorge talked about that decision.
The board’s investment has increased because they voted to help pay for a road off Interstate 530 into the property and now is nearly $4 million.
The $3.5 billion plant will be the first of its kind in America and the largest industrial venture in the state’s history.
GTL Americas LP, the company that is overseeing the plant, signed contracts with Hyundai Engineering America and S&B Engineers and Contractors Ltd for “front end engineering and design,” a process that is expected to take 18 to 24 months.
McGeorge said Hyundai ENG America is considered one of the top companies in the world in the design of plants of this type.
As many as 2,500 workers are projected for construction of the plant and when it is operational in 2028 or 2029 will employ an estimated 250 people.
