ARTICLE
Date	ArticleType
5/11/2005	Economic Development
Chamber Responds Favorably to Duke Power Announcement
FOR IMMEDIATE RELEASE: May 11, 2005 Duke Power Announces Plans for Expansion of Local Power Plant Cliffside Facility in Cleveland & Rutherford Counties Could Receive Investment of $2 Billion (Cleveland County, NC) – The Cleveland County Chamber is responding favorably to an announcement made by Duke Power earlier today that could result in improvements to the Cliffside Steam Station totaling $2 billion and netting the county a sizeable increase in additional annual tax revenues. The preliminary announcement, made by Duke Power on May 11 as part of a “Certificate of Public Convenience and Necessity (CPCN),” is part of Duke Power’s overall strategy plan for the future, according to the company’s release. “Duke Power has filed preliminary information with the North Carolina Utilities Commission to modernize and expand its Cliffside Steam Station in Rutherford and Cleveland counties and Buck Steam Station in Rowan County,” the release states. “The company is also considering whether to pursue the option to build a new nuclear power plant and is seeking bids from the wholesale power market for up to 1,500 megawatts beginning in 2009.” Company officials say that demand for power is growing and the request for the CPCN is part of Duke Power’s quest to operate a “highly-efficient and diverse fleet of power plants.” The company’s release also provides additional information about the expansion plans. “A potential Cliffside Steam Station modernization and expansion includes an 800-megawatt, highly efficient, coal-fueled unit planned for as early as 2010; substantial economic benefits for Cleveland and Rutherford counties with a potential investment of approximately $2 billion (for 1,600 megawatts); and a second 800-megawatt unit possible based on customer growth and the schedule for constructing a new nuclear plant.” Local officials estimate that upon completion, the economic impact of such an expansion in Cleveland County alone could generate a monumental increase in additional tax revenue each year. Cleveland County Commission Chairman Ronnie Hawkins says this expansion is another example of the successful partnership between the Chamber and Economic Development. “We are so grateful that the Chamber and the County has established such a great working relationship with an excellent corporate citizen like Duke Power,” said Hawkins. “We are proud that the corporation would continue that relationship by expanding the local power station and we applaud Duke Power’s effort to keep construction and operating costs low and to minimize environmental impacts.” Chamber President Stuart Gilbert says the Chamber is very excited about working with Duke Power and the local community in order to make this project a reality. “Duke Power's initial interest in filing information showing a desire in making additional investments in Cleveland County is another testimony of the county's continuing support of corporate reinvestments,” said Gilbert. “On behalf of our Cleveland County 20/20 economic development partnership and our board of directors, we are very pleased of Duke Power's initial filings to create upwards to $2 billion dollars of investments in Cleveland and Rutherford Counties. These investments and the associated jobs will create major positive economic spin offs for construction materials and workers for our region, in addition to cleaner and more abundant electricity for our region and additional opportunities for more business developments in our region.” For more information or a copy of the Duke Power press release, please contact the Chamber at (704) 487-8521. ###