Loop project: City committee approves partnership
November 23, 2011 at 12:54 am in The Jamestown Sun
The Jamestown Finance and Legal Committee approved Tuesday a Jamestown/Stutsman Development Corp. request to partner with Great River Energy in forming the Spiritwood Energy Park Association. The project includes a loop railroad line and an industrial park at the site of the GRE power plant.
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“The JSDC would own 71 percent of the park. Income to cover the cost of the railroad loop line and other features of the industrial park would come from land leases to new corporations building in the area and user fees from the railroad loop.”
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So basically the only way to get this income is to provide more tax breaks and tax payer money to companies in order to entice them to build in the park. Brilliant!! Corporate welfare is alive and well in Jamestown.
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it’s kind of the way business is done in this country. businesses locate where they can get the most from the local governments. it’s not the best system, but it’s the way it it is. local governments pay this to attract businesses and the related jobs. if Jamestown doesn’t play the game, some other community will.
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As someone said earlier, it boils down to Jamestown wanted an ethanol plant and thought this would help bring one in.
Well, Aberdeen has 3 ethanol plants within 20 miles of them, and Fargo has one a few miles out a Casselton, but alas, poor Jamestown just can’t seem to get one of those no matter how hard it tries.
You don’t suppose there is something wrong with the economics in Jamestown, do you?
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if Richardton ND can support an ethanol plant (far from traditional corn country), what makes you think the Jamestown area can’t?
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Some news is out concerning the power plant being mothballed until at least 2013. This loop venture may not be such a good thing to throw money into, right now. I hope JSDC reconsiders it’s stance on it.
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I’d have more faith in ANYTHING doing better ANYWHERE then Jamestown.
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