Two Spots in FutureGen’s
Final Four Position Illinois to Become World Energy
Leader
Central Illinois received some
fantastic news in late July with the announcement that
Tuscola and Mattoon represent half of the “final four”
for the $1 billion FutureGen Industrial Alliance’s
coal-fueled power plant, in development since 2003. The
other two finalists are Odessa and Jewett, Texas, and
the final site will not be announced until September
2007.
The first-of-its-kind plant will generate
electricity while producing zero emissions by capturing
carbon dioxide. It will use coal gasification technology
to produce 275 megawatts of electric power, as well as
hydrogen for fuel cells and other industrial uses. The
technologies that the FutureGen plant will use already
exist, but have not yet been integrated in a single
plant; this integration is expected to prove these
technologies commercially viable.
The FutureGen
plant being developed for the US Department of Energy
will set the standard for more commercially viable
coal-fueled plants throughout the world. Just as
important as the positive economic impact and jobs the
plant could bring to Central Illinois are the creation
of a greater market for Illinois coal and a new energy
reserve based on domestic resources.
There’s
also a likelihood of subsequent secondary markets from
the plant’s by-products and for related industries and
research facilities in the future. |
2004-2006 Chairman’s Report to Members
Now Online
I’m pleased to
announce that our 2004-2006 Chairman’s Report to
Members is now available electronically.
I
encourage you to read about the many
accomplishments made by our member leaders and
staff during Bob Imler’s term as Chairman.
We encourage you to share this report with
your business associates and
friends who should be
Illinois Chamber members. Your role in recruiting
new members can create a
stronger Chamber that can better serve the
Illinois business community.
Click
here to download or call 217-522-5512 to
request a hard copy of the report.
| |
Most importantly, this is a
momentous alert to the world that Illinois is a leader
in the energy business. This isn’t just another power
plant; this is about the future of the world’s energy in
a diminishing petroleum environment. It has the
potential to totally rejuvenate coal as a significant
future energy source for the world. It represents a
critical, visionary step after years of wrestling with
environmental issues that have held back coal power
plants, and addresses the future of energy not just for
a state rich with coal reserves but for our country and
the world.
Obviously the FutureGen Alliance will
continue to use thorough, objective criteria as they
review the four finalists. Texas and Illinois offer
different strengths for the plant. Texas is
geographically closer to ports on the Gulf of Mexico
where established energy facilities exist; Illinois is
geographically in the center of the US, an advantage
because plant officials want to use both eastern and
western coal.
In addition to Illinois’ coal
reserves, we are an infrastructure hub: sites in Mattoon
and Tuscola represent some of the best access in the
nation to natural gas pipelines, rivers, rail lines and
the geology to support the byproduct needs for this
plant. The FutureGen plant would be an excellent
complement to this hub with its technology that can meet
energy demands, protect the environment, and put people
to work.
FutureGen officials estimate as many as
1300 construction jobs will be required to build the
plant, with 150 permanent jobs once the plant is
completed. What a shot in the arm for the Central
Illinois economy that would be!
State officials
claim that another advantage Illinois’ sites hold is the
strength of the investment package being offered,
including a $17 million direct grant from a clean coal
technology fund, part of the state’s FY 07 budget. An
estimated $15 million sales tax exemption on materials
and equipment is available through local Enterprise
Zones. Additional project-related funding is available
through the Illinois Coal Competitiveness Program, the
Illinois Clean Coal Institute and the public-private
partnership Illinois Clean Coal Review Board.
Additionally, there is $50 million set aside by the
Illinois Finance Authority for below-market-rate loans
to the Alliance. Local support is seen in the form of
property and sales tax abatements, site donations and/or
land options.
Many state and local officials and
business leaders in Illinois have worked to reach this
Final Four round of this high-stakes game, and you can
bet the same is true in Texas. Every player, every
official, and every supporter of boosting our state’s
economy and coal industry will have to bring their
A-game to ensure Illinois brings home the FutureGen
trophy in 2007. | |
