Stout Announces State Funding For Greene County

HARRISBURG, June 30, 2009 – State Sen. J. Barry Stout and Rep. Bill DeWeese today announced the approval of a $26 million, tax-exempt bond issue for Allegheny Energy Supply Company, LLC, which is located in Greene County.

“The bond for Allegheny Energy will go towards a project to reduce harmful emissions by 70 percent from 2005 levels as well as remove a significant amount of
Mercury,” said Stout (D-Washington/ Greene/Allegheny/Beaver/Westmoreland). “It’s important to help Pennsylvania companies become more environmentally friendly so they are able to stay in the area and provide their services while not endangering local residents or the environment.”

The bond will go towards costs associated with constructing emissions control facilities at the coal-fired Hatfield Ferry Power Station in Monongahela.

Allegheny Energy owns and operates 20 fossil-fueled and hydroelectric power plants. The company has annual revenue of over $3 billion and has more than 4,000 employees. It’s anticipated that this project will create 36 jobs. The Greene County Industrial Development Authority was the sponsoring local economic development agency.

The Pennsylvania Economic Development Financing Authority (PEDFA) approved the bond issue. The program was established in 1987 through the Economic Development Financing Law to provide access to low-interest financing to businesses and non-profit organizations through the issuance of tax-exempt and taxable bonds. The bonds can be used to finance land, building, equipment, working capital, and re-financings.

###